EIB and EU Commission unlock up to €10 billion to support the green transition
The EU Commission and the European Investment Bank signed an agreement to provide 10 billion euros to support public investments in the territories in transition from fossil fuels towards a climate-neutral economy.
The agreement was signed on the Public Sector Loan Facility (PSLF), the third pillar of the Just Transition Mechanism, the European framework to support national just transition efforts by providing financial resources and technical assistance to EU member states with the requirement for beneficiaries to develop national just transition plans.
The facility, in fact, is intended to provide financing to public investments in regions most affected by the shift away from fossil fuels and it will sum up €10 billion in EIB loans with €1.5 billion in EU budget grants.
“Thanks to this agreement with the EIB, the Public Sector Loan Facility will offer public authorities in the regions and territories that most need supp