The European Investment Bank (EIB) has revised its Transport Lending Policy to focus on accelerating the sustainability of Europe’s transport.
The new policy is aligned with EIB’s Climate Bank Roadmap framework and states the organisation’s investment priorities concerning new technologies.
This also affects its other Paris-aligned projects, such as those related to pollution and decarbonisation targets, as well as safety and security, accessibility, greenness and efficiency (SAGE).
The aim of the policy is to support the transition to a net-zero and sustainable energy sources. Eligibility for EIB support for transport projects will be determined by the guiding principles of the roadmap.
The recent changes reflect feedback from EIB’s public consultation, which was held between 26 July and 29 October 2021 and involved more than 3,500 individuals and organisations across the transport industry.
Kris Peeters, VP of EIB, said: “Transport is today both a problem and a solution for society.
“It is the only major sector where greenhouse gas emissions continue to grow, yet it is also critical for trade, employment and development as well as a key feature of modern life.
“However, it is high time to make transport and mobility truly sustainable.
“The new EIB Transport Lending Policy takes a comprehensive view to making transport safe, accessible to all, green and efficient.
“By aligning our support for transport and mobility projects with our Climate Bank Roadmap, we help transform our unsustainable transport systems into sustainable ones.
“EIB is continuing to redirect its financing efficiently to respond to the climate and environmental emergency that confronts us all.”
The revised document sets out the main challenges affecting the sustainability and accessibility of urban transport, including the completion of the Trans-European Networks for Transport, the digitalisation and automation of the sector and the financing of infrastructure.
It identifies the investments EIB sees as most appropriate to meeting its targets, with the main priorities being urban mobility, urban rail, urban roads, inland waterways, maritime transport and air transport.
The policy comes into immediate effect and will be operational until 2027, subject to a review in 2025.
