On Tuesday, 5 December, EIB Global, the development arm of the European Investment Bank (EIB), unveiled – on the occasion of COP28 – the launch of a new approach “to a just transition and just resilience” in 2024, which aims to increase financing and advisory services in support of this transition around the world.
EIB Global supports projects via direct or intermediated lending – through funds, banks, and microfinance institutions – and seeks to establish financial and technical partnerships to help prepare just transition and resilience projects. The intended goal is to support at least €100 billion in investments between now and the end of 2027, that being approximately a third of the overall target of the EU’s Global Gateway strategy.
EIB Global is thus extending its support beyond the EU while focusing on least developed countries, conflict-affected States, and small islands. Moreover, the initiative prioritises communities that are dependent on natural resources while promoting climate adaptation with an integrated approach to social inclusion.
“We will be directing more support, through ‘Team Europe’ initiatives, to those countries and people who are most acutely impacted by the climate crisis and are most impacted by climate policies”, stressed EIB Vice-President Ambroise Fayolle.
The initial just transition activities—which tackle the challenges of the green transition and support sustainable projects—target nine pilot countries: Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, Serbia, Ukraine, South Africa, Indonesia, and Vietnam.
To see the approach to a just transition and just resilience: https://aeur.eu/f/9ya (Original version in French by Pauline Denys)