The board of the European Investment Bank (EIB) approved a �5 billion initiative to support wind energy equipment manufacturing companies in Europe, the bank announced on Monday.
The financing is part of the EIB’s contribution to the European Wind Power Package and is designed to further accelerate the EU’s net zero target while boosting industrial innovation.
The board also agreed on �20.4 billion in new financing for energy, transport, business, education, water and regional development investments across Europe and around the world.
The decision follows the commitment by the EU Bank to provide an additional �45 billion in financing to support the REPowerEU plan, designed to accelerate the decarbonization of the European economy and support state-of-the-art manufacturing in strategic net zero technologies.
"This includes approval of new financing for the reconstruction of roads and bridges in Ukraine and improving rail transport routes to Ukraine and Moldova," the statement read.
By Gulsen Cagatay
Anadolu Agency