The European Investment Bank (EIB), the climate bank of the European Union, has announced its plans to finance two bus rapid transit systems (BRT) in the cities of Batam and Makassar in the Republic of Indonesia. The EIB financing will be a part of wider Team Europe support for the Government of Indonesia in reducing country’s greenhouse gas emissions by up to 41% by 2030. Low-carbon urban infrastructure development projects like the BRT systems are key to reducing global greenhouse gas emissions as cities worldwide produce some 70% of all these emissions worldwide.
The European Investment Bank (EIB), the bank of the European Union, has secured a €15 million grant from the European Union to accelerate the implementation of the Sustainable Assets for Agriculture Markets, Business and Trade (SAAMBAT) project. The grant includes €1.5 million earmarked for technical assistance in project preparation, which will be key to faster implementation of the project.