EIB supports transition to low-carbon and climate-resilient economy

03.08.2017

Dubravka NegreHead of the European Investment Bank (EIB) Regional Representation for the Western Balkans, speaks in an interview for the Balkan Green Energy News about EIB’s priorities and plans in the region in coming years. She also reveals how the EIB supports the transition to a low-carbon, environment friendly and climate-resilient economy, by committing at least 25 percent of its lending portfolio to this goal. In the Western Balkans, the EIB has so far invested EUR 80 million through the Green for Growth Fund in the renewable energy sector. The Bank plans to invest more than EUR 3 billion under the Resilience Initiative in the Western Balkans in the next three years, and plans to widen further lending activities to sectors which have a positive impact on climate change.

How much the EIB plans to invest in development of the Western Balkans in the upcoming period and which areas will have priority?

The Bank’s support to the Region started in 2001 and today we are one of the largest lenders to Western Balkan economies with EUR 8.7 billion of the approved financing. We are financing the construction of motorways and by-passes, rehabilitating the national road and railway networks, refurbishing and building of new schools, hospitals, judiciary facilities, municipal infrastructure, as well as providing support to the scientific community through our research and development loan program. Significant funding has already been channeled into those sectors and we still have numerous ongoing projects where significant funds are to be released.

In the future, we intend to widen further our lending activities under the new Economic Resilience Initiative to sectors such as renewable energy and energy efficiency and the environment, which have a positive impact on climate change. This year and beyond, the Bank will continue to support health and judiciary infrastructure projects, as well as the railways and road sectors but we also envisage continuing support of SMEs, through the commercial banks and national promotional banks. More support for Serbia’s resilience to migrant crisis is also being envisaged in the upcoming period.

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Source: Balkan Green Energy News

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