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European Investment Bank Unlock finance for post-pandemic recovery

The European Investment Bank (EIB) board of directors approved $14.9 billion to finance post-pandemic recovery projects and climate action around the world. 

The new financing includes more than $3.67 billion of COVID-19 related investment aimed at strengthening public services, improving public health and back investment into companies in sectors hardest hit by the pandemic. 

The bank has approved $23.8 billion since the pandemic began to enable public and private partners around the world to address challenges in health, social and economic aspects. 

The EIB board of directors agreed to back investment in telecommunications, agriculture, housing, water and urban development across Asia, Europe, Africa, and Latin America. 

Werner Hoyer, EIB President said fighting climate change and tackling the pandemic has to go hand-in-hand to achieve a green recovery. He also said that this money would be invested in sustainability and innovation efforts and be used to minimize the impact of climate