EU approves €1.3bn support for energy, water projects

The European Investment Bank (EIB) has approved financing totalling €1.3 billion (£1.14bn) for energy and water projects. They include wind farms in Austria, upgrading energy and water networks in Italy, […]

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By Priyanka Shrestha

The European Investment Bank (EIB) has approved financing totalling €1.3 billion (£1.14bn) for energy and water projects.

They include wind farms in Austria, upgrading energy and water networks in Italy, expanding hydropower in Madagascar, smart meters in France and renewable energy projects in Peru.

New support for water and wastewater in the UK and investment in small scale biomass and district heating schemes across Europe were also agreed.

EIB President Werner Hoyer said: “Economies across Europe and around the world enjoy solid growth rates at the moment but there is still a large investment gap that needs to be tackled. Investment in needed in many areas, from fighting climate change to supporting the digital transformation.”