EIB to announce €800M for climate action projects in Argentina, Brazil and Chile at EU-CELAC summit

• All of the projects being financed are part of the European Union’s Global Gateway initiative.

During the European Union-Community of Latin American and Caribbean States (CELAC) Summit of Heads of State and Government, the European Investment Bank (EIB) will announce the signature of several loans to finance climate action projects in Argentina, Brazil and Chile. All of the projects are part of the European Union’s Global Gateway initiative that supports projects improving global and regional connectivity in the digital, climate, transport, health, energy and education sectors.

The projects include financing the first-ever residential mortgage-based loan for efficient housing units outside the European Union; supporting the renewable hydrogen industry; expanding, modernising and increasing the resilience of electricity transmission networks; supporting renewable energy, energy efficiency and bio economy projects; financing integrated waste management programmes; and installing solar photovoltaic plants in individual homes, small and medium-sized enterprises (SMEs) and local businesses.

This article was first published on 14 July by the European Investment Bank.