European Investment Bank (EIB)

"My island is just 39 square kilometres, but the last tornado decimated it. We had one hurricane 50 years ago; in the past 10 months, we’ve had three, with the last one damaging over 90% of properties." These are the words of Simon Stiell, Executive Secretary of UN Climate Change, sharing his firsthand experience of climate change’s devastating effects on his home island of Carriacou. For Mr. Stiell, the next five years are critical. We are nearing a natural point-of-no-return, yet there is still hope. The transition has begun, and measurable progress is underway. What we need now is more political will and decisive climate action. Multilateral Development Banks play a crucial role by de-risking investments, supporting vital innovative technologies, and attracting private capital. The cost of inaction is high. That’s why, as the Climate Bank, we: 🟩 Dedicate 60% of our budget to climate and environmental sustainability. 🟩 Support projects and initiatives that mitigate the effects of climate change. 🟩 Plan to triple our adaptation finance by 2025. Ahead of #COP29 in Baku, Mr. Stiell met with EIB President Nadia Calviño and Vice-President Ambroise Fayolle to discuss how we can further contribute to global climate action, achieve the 1.5°C target, and the pivotal role of Multilateral Development Banks in accelerating green finance. #ClimateAction #ClimateChange

🌱 Empowering Sustainable Innovation in Hungary 🌱 European guarantees are making a real difference for Hungarian businesses, especially in lagging regions. Agroloop uses the larvae of black soldier flies to turn biomass into high-quality protein feed, oil, and fertiliser with a significantly lower ecological footprint than average feedstock production – using 30 times less land, and 40 times less water, while producing 40 times less carbon emissions. Thanks to a €370 million umbrella guarantee agreement between UniCredit and the European Investment Fund (EIF), Hungarian SMEs like Agroloop will access the necessary funding to keep growing and innovating. By the end of this year, Agroloop will be able to produce 3 000 tonnes of protein meal, 600 tonnes of oil, and 6 000 tonnes of fertiliser annually. But their vision extends beyond profitability, and the EIB Group is proud to help them driving sustainable technological innovation and nurturing talent across the country. Learn more 🔗 https://bit.ly/InsectPower #Sustainability #Innovation #InvestEU

We are back with a new season of President Nadia Calviño's #1week1minute video! 🔵 Over the last few weeks, we had operations in Germany, Finland, Poland, Romania, Barbados and Christmas Islands, accelerating climate action globally. 🔵The EIB Board of Directors approved €10.8 billion of new financing for energy, business, health, housing and education, reinforcing Europe's strategic autonomy, energy efficiency and security. 🔵€100 billion mark as pioneers of green bond issuance.

The largest windfarm in Denmark will power up over a million homes with 1.1 Gigawatts of clean energy.   The Thor project by RWE is set to supply one in three Danish households with green energy and help us move towards our goal of a net-zero future.   The project is part of the company’s broader decarbonization strategy, which includes investing €55 billion in renewables and aiming for net-zero carbon emissions by 2040.   By 2050, offshore wind farms in the North Sea are expected to deliver at least 300 gigawatts of capacity.   We are supporting the Thor wind farm project with €1.2 billion, as part of the North Sea Energy Cooperation—a wind-energy program aimed at cost-effective offshore renewable energy deployment.   👉 https://lnkd.in/dAb66w5T

Meet Oleksandr and the Ukrainian national sitting volleyball team, ready to compete  at the recently kicked-off Paralympic Games in Paris! Thanks to the renovated Kolos Sports and Rehabilitation Complex in Reshetylivka, Poltava Oblast, Oleksandr and the team were able to train and prepare for this monumental event. We are proud to have supported the renovation of the Kolos Complex alongside the EU Delegation to Ukraine, Ministry for the Restoration of Ukraine and UNDP Ukraine. Opened in 2023 amid war, the centre has become a crucial hub for sports and rehabilitation, serving people with disabilities, as well as athletes from Ukraine’s national teams of paralympic and deaflympic sports. Join us in cheering on Oleksandr and the entire Ukrainian sitting volleyball team as they strive for the victory at #Paralympics #Paris2024 ! 🏆

Today, our Board of Directors approved €10.8 billion in new financing for transformative projects across Europe and beyond: ✅€5 billion for clean energy, water and forestry ✅€2.6 billion for corporate innovation ✅€3.1 billion for health, housing and education ✅€137 million for sustainable transport. From supporting renewable energy and restoring forests to building affordable homes, new hospitals, and better schools, we’re investing where it matters most. Read more➡️bit.ly/BoD_August

🌍 Did you know? The first-ever EIB loan was signed on 21 April 1959. This groundbreaking loan, in partnership with the International Bank for Reconstruction and Development, funded three pioneering projects in Italy 👇 1️⃣ SINCAT Industrial Project: Received funding to construct facilities within the Augusta-Priolo petrochemical complex in Sicily for the cracking of crude oil. This complex, strategically located on the southeast coast, leveraged its proximity to Middle Eastern oil supplies and remains one of the largest in Europe. 2️⃣ CELENE Industrial Project: Supported by the EIB, Celene built installations for transforming ethylene, provided by SINCAT, into plastic products. The collaboration between SINCAT and Celene resulted in the creation of 2,000 jobs and spurred further industrial investments in Southern Italy. 3️⃣ MERCURE Power Project: This project involved the construction of a thermoelectric power plant in Lucania, Southern Italy, between the regions of Calabria and Basilicata. Built by the Società Meridionale di Elettricità, the plant, with a 150-megawatt capacity, utilized local lignite deposits from the east bank of the nearby Mercure River to meet growing regional electricity demands. #EuropeanInvestmentBank #Throwback

A quick Monday poll 👇

As Russia’s war against Ukraine continues, international support is essential to ensure the country's competitiveness and development.   On Ukraine’s National Flag Day, a symbol of freedom and independence, we highlight the resilience of Ukrainian businesses by telling the inspiring stories of the people behind them.   Anton Chornyi, CEO of GoIT - start your career in IT, remains committed to education despite the war. Since 2017, he has expanded the company's global reach, offering online tech courses to career-changers with little or no IT background.   Horizon Capital, a private equity firm investing in Ukraine, is helping GoIT expand internationally and boost exports, crucial for sustaining Ukraine’s economy during challenging times. In 2023, we supported Horizon’s efforts with a €25 million investment through the EU for Ukraine Fund, designed to address urgent needs and foster economic resilience.   Learn more about their story🔗bit.ly/Ukraine_Businesses

An Italian company is revolutionising renewable energy storage using carbon dioxide. Here’s what makes Energy Dome's project a game-changer 👇   1. Long-Duration Storage: It stores energy for up to 10 hours, crucial for integrating renewables into the grid.   2. Cost-Effective: This innovative approach is half the cost of traditional lithium-ion batteries.   3. Eco-Friendly: The system uses a closed loop with zero emissions. CO2 is compressed, stored, and reused efficiently, providing sustainable energy storage.   Dawid A. Fusiek tells us more about this cutting-edge project here 👉 https://lnkd.in/dhH_h7De #RenewableEnergy #CO2storage #Innovation