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Monday, 13 December 2010

The EIB, a committed environmental player

With its financial clout, the EIB is able to commit substantial resources to the environment and to combating climate change. This year more than 25% of its total lending has been granted to further the objectives of the European Union in this area. Getting the planet to change its way of life by producing renewable energy and consuming it without waste is a huge challenge. The EIB has a three-pronged strategy. Firstly, it supports science by lending to enterprises that develop renewable energy research programmes – solar, water, wind, geothermal and biomass.Secondly, it promotes the marketing of these new methods. In particular, it has supported the world's first commercial solar tower in Spain, solar roofs in Germany, photovoltaic panels in France, geothermal power plants in Iceland and Kenya and onshore and offshore wind farms in a number of countries worldwide, e.g. Belwind – Belgium’s biggest offshore wind farm. Located in the North Sea, when fully up and running it will be able to supply electricity to some 175 000 homes.Pre-empting climatic disturbances. Lastly, the EIB helps the countries and regions most threatened by climate change to adapt to these inevitable disturbances, which jeopardise their well-being and sustainable economic growth.

Source: The EIB