The European Investment Bank (EIB) has approved $4.9 billion financing for renewable energy, clean transport, COVID-19 recovery, social housing and education.
The Board also approved financing and technical support to increase sustainable and reliable energy supply and improve energy efficiency in schools, hospitals and businesses across Africa.
Of this amount, $363 million for education, healthcare and social housing, $95 million will be allocated to the East Africa Rift Geothermal Project, $1.6bn for renewable energy, $1.1 billion to transform rail transport and maritime connectivity, amongst other projects.
The EU Bank agreed financing in Alsace to support the construction of new secondary schools and upgrade and expand existing facilities, and improve acute and long-term care and assisted living services provided by a regional healthcare in the Netherlands.
The EIB will also support a new initiative to increase the supply of affordable social housing by housing cooperatives and municipal authorities in several locations in Poland.