The European Investment Bank (EIB)
is the lending arm of the European Union. It is the biggest multilateral financial institution in the world and one of the largest providers of climate finance. The EIB aims to help the economy, create jobs, promote equality and improve lives for EU citizens and for people in developing countries. The EIB Group has two parts: the European Investment Bank and the European Investment Fund. The European Investment Bank focuses on six areas:
The Covenant of Mayors
(COM) - The EU Covenant of Mayors for Climate & Energy, launched in 2008, brings together thousands of local governments voluntarily committed to implementing EU climate and energy objectives. The COM website contains an interactive funding guide that outlines initiatives managed by the EU, member states and key financial institutions e.g. EIB; as-well as information on support services and innovative financing schemes. The Urbis Advice Hub
on the COM website aims to accelerate and unlock urban investment projects, programmes and platforms.
The Next Generation EU Stimulus Plan
announced by the EU commission in May 2020 is a recovery instrument which provides financial supports to member states to recover following the Covid-19 pandemic. It will focus on climate action by meeting the EU’s objectives set out in the EU Green Deal and on the digitisation of society and health-sector resilience. It will be distributed through existing funding platforms including Horizon Europe, EU Cohesion spending, the just Transition Fund, Rural Development Funds and support for developing countries on the periphery of the EU.
The climate action features of this stimulus include: