Belgium – The InvestEU Investment Committee has approved framework agreements for the first EBRD activities valued up to €150 million.
This is a portion of the InvestEU guarantee agreement between the European Commission and the EBRD, worth up to €450 million.
In order to assist the EU countries where the EBRD operates in realizing their full potential for environmental sustainability, the European Bank for Reconstruction and Development (EBRD), supported by the InvestEU program, will mobilize more than €1.1 billion in financing through direct investments or financial intermediaries. In order to increase sustainability and reduce negative environmental effects, it will encourage investment projects.
In order to solve environmental issues, the new finance will encourage green and sustainable initiatives in the municipal, transportation, and energy sectors.
Green Cities
Additionally, it will support the EBRD’s successful Green Cities program, which supports the green transition in more than 50 urban areas. It will aid in the COVID-19 pandemic’s recovery, alleviate infrastructure deficiencies, and boost these EU nations’ competitiveness and socioeconomic convergence.
Also, financial institutions in these nations will be allowed to offer loans to finance investments in environmentally friendly transportation, energy-saving technologies, renewable energy sources, and residential construction. This will aid in lowering CO2 emissions from the transportation and building sectors and saving energy.
Green investments
Finally, the EBRD will encourage green investments in a variety of industrial and infrastructural initiatives with the cooperation of InvestEU. They will concentrate on private businesses dealing with the increased expenses of more modern technologies, greater perceived dangers, and a lack of funding.
The projects that are anticipated to receive funding in this context include initiatives for the circular economy, recycling, green buildings, sustainable food products, renewable energy, energy grids, and energy storage, water and wastewater treatment, as well as low-carbon and urban transportation.
