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Tag: European Investment Bank

  • Powertrain developer AVL receives EIB top-up financing of €50 million

    Powertrain developer AVL receives EIB top-up financing of €50 million

    The European Investment Bank (EIB) is providing a €50 million loan to AVL List GmbH (AVL). The Austrian company specialises in the development of innovative powertrain systems for global automotive and transport industries.

    The EIB financing comes on top of a €70 million loan signed in December 2017 to support AVL’s electric drive-related activities, including selected R&D projects for hybrid and fully electric powertrains, as well as advanced driver assistance systems for connected and autonomous vehicles.

    AVL List GmbH is the world’s largest independent company for the development, simulation and testing of powertrain systems (hybrid, combustion engines, transmission, electric motors, batteries and software) for passenger cars, trucks and stationary high-performance engines.

    AVL has more than 11.500 employees all over the world. In 2019, sales revenues reached €1.97 billion.

  • EIB and Erste Bank, 300 million euros for affordable housing in Austria

    EIB and Erste Bank, 300 million euros for affordable housing in Austria

    European Investment Bank (EIB) has promised to Erste Bank 150 million euros in funding to support affordable housing in Austria.

    Erste Bank will add a further 150 million Euros to this, which will consequently see it contribute a total of 300 million Euros to social housing over the next three years.

    The agreement, which has so far signed off on 100 million Euros and approved a further 50 million, essentially involves granting financing, with interest fixed for up to 28 years, for new subsidised or non-profit rental units, thereby securing rents for nearly three decades.

    The money is primarily to be used in cities where the demand for affordable housing is particularly high.

    Based on this model, framework financing for investments of 200 million Euros was agreed on between the EIB and Erste Bank back in May 2019.

    After 14 months, almost all this funding has now been allocated.

    It has been/is being used to build around 2,200 affordable housing units for approx. 3,900 residents, such the ”Vielschichtig Wohnen” project conducted by the Österreichisches Volkswohnungswerk housing construction company in Vienna’s 21st municipal district.

  • EIB supports the reconstruction of major roads in Montenegro

    EIB supports the reconstruction of major roads in Montenegro

    The European Investment Bank (EIB) signed a second tranche worth €40 million for the rehabilitation of 180 kilometres of road along the five main routes in Montenegro.

    The loan from the EU bank is complemented by a €1.5 million technical assistance grant awarded under the Economic Resilience Initiative (ERI). It is the first ERI grant to be awarded to a project in the Western Balkans.

    The total EIB investment worth €80 million is expected to increase road safety and efficiency and facilitate faster economic recovery and regional trade.

    The modernisation of roads and increased safety along the reconstructed sections will reduce vehicle operating costs, commute times and the frequency of road accidents.

    Some 4.100 temporary jobs will be created under this project, supporting the private sector in Montenegro.

  • EIB provides support for new hybrid regional trains in Italy

    EIB provides support for new hybrid regional trains in Italy

    The trains will be less polluting and more efficient, and almost half will be for southern Italy.

    This is the goal of €450 million in European Investment Bank (EIB) financing for FS Italiane (parent company of the Trenitalia transport company).

    €150 million of the total has already been finalised via the subscription of a corporate bond under FS’ EMTN programme, concluded by way of private placement, confirming the group’s commitment to sustainable finance.

    The recently subscribed operation will finance the purchase of the first 43 trainsets ordered of a total of 135 covered by Trenitalia’s investment plan.

    The new trains will operate on internal routes in Southern Italy

    The new trains will operate on internal routes in several Italian regions (including Calabria, Lazio, Molise, Sardinia, Sicily, Tuscany and Valle d’Aosta).

    The 135 hybrid trainsets will have three or four passenger carriages.

    The trains will be equipped with cutting-edge motors for non-electrified lines, with a pantograph for electrified lines and batteries for the last mile of non-electrified lines, thereby avoiding the use of fuel and the related emissions close to urban centres.

    Trenitalia’s overall investment for this kind of train totals almost €960 million, covering the renewal of regional fleets on lines where electrification is not yet complete.

  • Trento to receive €300 million for sustainable projects and post-COVID-19 reconstruction

    Trento to receive €300 million for sustainable projects and post-COVID-19 reconstruction

    The EU bank is backing the Autonomous Province of Trento for all sustainable public sector projects and the economic recovery from the impact of the COVID-19 pandemic.

    This is the goal of the agreement signed yesterday by the European Investment Bank (EIB), which will provide €300 million to the northern Italian province, with an initial tranche of €160 million already finalised. 

    Cassa del Trentino – the institution for supporting economic development and infrastructure construction and management within the autonomous province – will be responsible for channelling the resources to municipalities and public entities.

    In concrete terms, projects in the public infrastructure, energy efficiency and renewable energy sources, sustainable transport, urban development and renewal sectors together with investments in tackling and mitigating climate change will be eligible for financing.

    These will be joined by any projects of municipalities and public entities in Trentino that aim to alleviate the effects of the economic and social crisis caused by the pandemic and lay the groundwork for an economic recovery.

    The maturity of the loans can be up to 20 years, with a four-year grace period.

  • EIB backs 826 MW Mytilineos power plant in Greece

    EIB backs 826 MW Mytilineos power plant in Greece

    The European Investment Bank has agreed to support construction of a new power plant in Greece by Mytilineos S.A.

    The new 826 MW CCGT Agios Nikolaos power plant will allow greater use of renewable energy resources in the country and enable the phasing out of lignite power generation in Greece by 2023, as well as supply long-term energy demand.

    European financial backing

    The EIB will provide a EUR 125 million 8 year loan to finance construction and connection of the new EUR 322m plant at Agios Nikolaos Viotias in central Greece alongside an existing energy generation center and industrial site.

    The EIB loan is guaranteed by the European Union under the Investment Plan for Europe.

    Crucial investment in the context of lignite power plant closures and expansion of renewable energy in Greece

    Once operational the new 826 MW natural gas CCGT plant will contribute to ensuring sufficient generation capacity to support the shut down of all -except one- lignite power plants in Greece by 2023. Lignite currently accounts for 4 GW of power generation in Greece, 22% of total capacity in the country.

    The Agios Nikolaos plant will also provide flexibility to allow greater use of intermittent wind and solar power in the future and enable increased electricity network  interconnection between mainland Greece and the islands.

    The new plant will be the most efficient gas power plant in Greece and use state of the art CCGT technology. The new investment by Mytilineos S.A. will also help to diversify power generation in Greece and increase competition in the energy sector.

  • EIB approves € 16.6 billion for COVID-19 health response

    EIB approves € 16.6 billion for COVID-19 health response

    • € 10.2 billion for COVID-19 public health and business financing;
    • € 5.2 billion for new private sector financing schemes;
    • € 2 billon for energy and energy efficiency investment around the world;
    • Millions of commuters to benefit from € 1.9 billion urban transport funding in Europe, Asia and Africa.

    The European Investment Bank (EIB) approved € 16.6 billion of new financing for projects across Europe and around the world.

    This includes more than € 10 billion of COVID-19-related investment to improve public health, strengthen public services and back investment by companies in sectors hit by the pandemic.

    € 10.2 billion to help businesses and the public sector cope with the pandemic

    This includes € 2 billion to support COVID-19 public health and healthcare investment across Italy and € 1.5 billion to help local authorities in France to better respond to the pandemic.

    An additional € 1 billion was approved to strengthen the public sector response to COVID-19 in the Czech Republic, Hungary, Bulgaria, Cyprus, Romania and Slovakia, € 900 million for public and private investment related to COVID-19 challenges across the Western Balkans and € 800 million for COVID-19 related business investment in Egypt.

    Companies in Estonia, Greece, Italy, Latvia, Lithuania, Portugal and Slovakia most impacted by the pandemic will also be supported through new targeted credit lines.

    Outside Europe the EIB will also enable companies in North and sub-Saharan Africa, the Eastern Neighbourhood and southern Caucasus to access financing under a dedicated regional COVID-19 financing programme.

    € 1.9 billion to improve energy efficiency, cut emissions and increase energy access

    Energy bills and emissions will be significantly reduced following new district heating investment in France and the Netherlands approved by the EIB today.

    The EIB agreed € 900 million of new green energy investment in Italy and Spain and backed a new cross border energy link between Greece and North Macedonia to reduce carbon emissions and phase out the use of lignite.

    The EIB also approved financing to two new electricity interconnectors in Mali and Madagascar to reduce dependency on fossil fuels, increase energy access and increase the use of cheaper energy sources. In Mali the capital Bamako will be connected to the West Africa power pool and new sources of renewable energy from across the region.

    Sustainable power generation in Colombia, Ecuador and Mexico will be strengthened under a new financing programme approved by the EIB.

    Urban transport and green shipping

    Commuters and residents of Krakow will benefit from cleaner and better public transport following EIB support for new investment in the city.

    The EIB also agreed € 1.1 billion of new support that will transform public transport in cities across Egypt and € 650 million for construction of two new metro lines with 30 stations in the Indian city of Kanpur.

    River, rail and road logistics in Europe will be enhanced and emissions reduced by upgrading the Duisburg inland port, another project backed by the EIB.

    Urban development and social housing

    Thousands of families will benefit from new energy efficient social housing investment in Germany and energy efficient housing across Kenya.

    A new project to accelerate investment in sustainable projects in Barcelona will contribute to achieving the goal to cut per capita carbon emissions by half in the Catalan capital.

  • Moldova acquire 12 new locomotives using european funds

    Moldova acquire 12 new locomotives using european funds

    Twelve modern diesel locomotives purchased by Moldova’s state-owned railway company Calea Ferată din Moldova (CFM) thanks to joint financing from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU) arrived in Chisinau.

    The new rolling stock was manufactured in Nur-Sultan, Kazakhstan, by GE Transportation, now a division of the US company Wabtec, a leading supplier of freight car and locomotive products.

    GE Transportation was contracted following a tender held by CFM in 2018 in line with EBRD procurement policies and rules.

    The acquisition of the locomotives is part of a large project financed by the EBRD, EIB and EU that also includes the rehabilitation of railway infrastructure and comprehensive reform of CFM to improve safety, efficiency and corporate governance.

    The total project cost is €110 million, of which €5 million is an investment grant from the EU’s Neighbourhood Investment Facility (NIF) and the remainder from loans by the EBRD and EIB.

  • EIB, loan agreement for the modernisation of the Malmö University Hospital

    EIB, loan agreement for the modernisation of the Malmö University Hospital

    The European Investment Bank (EIB) has signed a SEK 3.5 billion (EUR 325 million) loan agreement with the Region of Skane in Southern Sweden to finance the modernisation of the regional University Hospital in Malmö.

    The hospital is currently providing its services from buildings from the sixties and seventies, which are no longer fit for purpose.

    The project supported by the EIB involves the construction of two new buildings with a total surface area of 106,000 m2 and the rehabilitation of about 8,000 m2 within the existing campus of the Malmö University hospital.

    With the implementation of the project the hospital expects to reduce the energy consumption of the overall campus by 17.200 MWh on a yearly basis.

    The works are already underway and foreseen to be finished by June 2025.

  • EIB provides funding of €20 million to German company NavVis

    EIB provides funding of €20 million to German company NavVis

    The European Investment Bank (EIB) and NavVis GmbH signed a contract which provides financing of €20 million to the German company.

    NavVis is a global market leader in digital twin technology.

    NavVis has experienced unprecedented growth and demand for its indoor spatial intelligence solutions, and will further invest in expanding operations to meet the need for technological innovation in the enterprise manufacturing industry.

    NavVis CEO, Felix Reinshagen said: ”We’re proud to receive this financing from the EIB, which represents an important milestone in our long-term vision of digitizing all buildings.”

  • EIB to provide support for a specialised children’s hospital in Burgas

    EIB to provide support for a specialised children’s hospital in Burgas

    The European Investment Bank (EIB), funded by the European Investment Advisory Hub (EIAH), will provide support to the Municipality of Burgas to facilitate project preparation for the construction of the first children’s hospital in the country.

    The construction of the new hospital is an integral part of the Burgas Municipality’s Investment Programme for the period 2020-2023 and is also considered as an important component of the country’s healthcare strategy by the Ministry of Health.

    The new hospital will address the healthcare needs of children and adolescents in the city of Burgas, one of the fastest growing cities in Bulgaria.

    The advisory support from the EIB and international consultancy experts will provide the municipality with a comprehensive feasibility study that will include functional planning and preliminary designs for the hospital, in line with best international practices and standards.

    This project is due to be completed by 2024.

  • CureVac, €75 million loan agreement for the development of vaccines

    CureVac, €75 million loan agreement for the development of vaccines

    European Investment Bank and CureVac sign €75 million loan agreement for the development and large-scale production of vaccines, including CureVac’s vaccine candidate against SARS-CoV-2.

    In addition, the loan will support the company’s efforts to expand its existing Good Manufacturing Practice (GMP) certified production capabilities and accelerate the completion of its fourth production site in Tübingen, Germany.

    The EIB financing will be provided in three €25 million tranches upon completion of pre-defined milestones.

    CureVac is a leading clinical stage biotechnology company in the field of messenger RNA (mRNA) technology with 20 years of expertise in developing and optimizing this versatile molecule for medical purposes.