The link between climate, development and infrastructure is indelible and engrained in the Sustainable Development Goals. The EIB’s activities foster this holistic approach to development finance.
In March 2016, the EIB signed its biggest-ever loan in India for the construction of a new Metro in Lucknow, the capital of the sub-continent’s most populous state. The Metro will increase use of public transport in Lucknow from 10 to 27%. This infrastructure project will make a vital contribution toward the city’s development and represents an important step in the battle against climate change.
The EIB is already delivering on infrastructure, development, climate action and innovation. And with our MDB partners, we can achieve even more.
Sustainable energy for one billion people by 2030
Today 800 million people lack access to electricity, including half the population of sub-Saharan Africa. Another 2.8 billion people lack access to electricity that is reliable enough to secure their livelihoods or power modern healthcare facilities and schools. The pandemic has only exacerbated the inequality of global energy access.
To tackle this challenge, the Rockefeller Foundation and the EIB have announced a global coalition aimed at providing sustainable energy for one billion people within this decade. Organisations joining this call to action also include the African Development Bank, the UK's development finance institution (CDC), the International Energy Agency, the International Renewable Energy Agency (IRENA), the United Nations Development Programme (UNDP), the U.S. International Development Finance Corporation and the U.S. Agency for International Development (USAID).
The Gap Fund paves the way for cities to deliver ambitious infrastructure development for low-carbon, resilient and livable cities. It provides technical assistance for early-stage planning and project preparation. It unlocks a pipeline of financially viable urban investments that contribute to local transformation, global climate goals and green recovery. The Gap Fund was announced at the United Nations Climate Action Summit 2019 and was launched in September 2020. It is funded by Germany and Luxembourg and implemented by the World Bank and the European Investment Bank.
The ability to travel great distances safely and easily is one in the West we take as a basic right. For many in the developing world, just travelling to the next town or village is arduous, fraught with danger and at great expense to the environment.