A €30 million (£26.9m) loan has been guaranteed for sustainable energy projects in the Netherlands.

The European Investment Bank (EIB) is providing the money to Limburgs Energie Fonds (LEF), a fund established by the Province of Limburg and managed by Finquiddit.

The fund invests in small to medium sized projects in the areas of carbon emission reductions, removal of asbestos in buildings and circular economy initiatives.

EIB Vice President Pim van Ballekom said: “Smaller and local projects will be key to upholding the Paris Agreement and innovative ways to finance these will be more and more needed. This includes using public money in the form of loans and guarantees, rather than subsidies.

“Combating the effects and causes of climate change should be high on everyone’s agenda and we are very happy that, thanks to EFSI [European Fund for Strategic Investments], we can support the Province of Limburg in this initiative.”