NIB and EIB partner on green transition in Baltic Sea region

Sustainable energy

Luxembourg – Future green energy cooperation between the Nordic Investment Bank (NIB) and the European Investment Bank (EIB) was explored at the meeting in Luxembourg.

The European Green Deal, the impact of the war in Ukraine, the energy crisis in Europe and the need to invest in new sources of energy and new technologies, the crowding in of the private sector to attract more investments in sustainable infrastructure, and financing research and innovation were all discussed by the institutions.

Green transition

The institutions’ mission is to aid in the green transition of the Baltic Sea area by increasing investment in energy efficiency, renewable energy, and local communities and SMEs. The European Union must increase its energy independence and speed up its shift to a low-carbon economy. More effort is needed to sustainably increase resilience in the Baltic Sea region.