EIB commits record amount of green financing

Total European Investment Bank (EIB) financing for sustainable energy projects inside the EU hit €17bn in 2022, as the bank began rolling out the REPowerEU plan designed to end dependency on Russian fuel imports.

Overall EIB Group (EIB and European Investment Fund) financing signed last year was €72.5bn, which is expected to support around €260bn in investment.

EIB President Werner Hoyer said: “The EU bank is deploying the full scale of its financial firepower to cushion the economic fallout from Putin’s unjustified aggression and lay the foundations for a sustainable recovery.”

Green financing from the EIB increased to €36.5bn (58% of the total), meaning that the bank met its commitment to devote at least half of its resources to climate action and environmental sustainability ahead of its 2025 target.