To support renewable energy production in the Netherlands, The European Investment Bank (EIB) has signed a $292 million loan agreement with TenneT Holding B.V. The funding will help to build a 40km long electricity transmission corridor from Eemshaven to Vierverlaten in the province of Groningen, in the north of the Netherlands.
- The new electricity transmission corridor will double the capacity of the existing 220kV circuit.
- The transmission corridor financed by the EIB includes a new 380kV line from Eemshaven to Vierverlaten, combined with a 110kV line for part of the route, and a new 380/220kV substation in Vierverlaten
The major supports and loans by European Investment Bank are featured below:
July 2021: For the modernisation and digitalisation electricity distribution network in Spain, Iberdrola and The European Investment Bank (EIB) had signed a new $649 million green loan agreement. This agreement contributes to the development of the ambitious network investment plan that i-DE Iberdrola’s Spanish distributor will develop between 2021 and 2023.
May 2021: For the strengthening of mid-size Finnish companies, the European Investment Bank had signed a guarantee agreement with OP Bank in Finland to allow OP to bring new financing worth $361 million.
March 2021: For establishment of a more efficient and reliable public transit system, the European Investment Bank (EIB) approved $47million to Bosnia and Herzegovina. The fund would support the reconstruction of the urban transport network in the Canton of Sarajevo.
March 2021: For COVID-19 resilience, EIB Group supports Romania with $962 million. The new financing from the European Investment Bank would benefit higher education, water distribution, energy efficiency and private sector investment across Romania.
March 2021: To boost digital transportation the European Investment Bank (EIB) and the Société Nationale des Autoroutes du Maroc (ADM), responsible for building, operating and maintaining Morocco’s highways, signed a financing contract of USD 103 million.
Feb 2021: To accelerate research in plant protein and biosource materials, the European Investment Bank (EIB) had finalized a USD 60 million loan to Avril group in France. The finance helps to innovative projects in the fields of plant proteins and chemistry.
The European Investment Bank Group, is an international financial institution, headquartered in Luxembourg. It is a bank of European Union. The EIB Group has two parts- the European Investment Bank(EIB) and the European Investment Fund(EIF). The EIB is the lending arm of 27 members European Union. The EIF support SMEs, and it work through financial intermediaries in the Member States and in partnership with national promotional banks. EIB helps in creating jobs and improving lives for EU citizens and also helps people in developing countries.