Europe pledges US$880M for climate initiatives in LatAm ahead of CELAC summit
The European Investment Bank (EIB) announced its plan to allocate €800 (US$880) million for climate initiatives in Argentina, Brazil, and Chile.
This funding is part of the EU’s Global Gateway initiative, supporting projects aimed at enhancing global and regional connectivity in various sectors, including climate, digital, transport, health, energy, and education.
The official confirmation of these loans will take place during the forthcoming EU and Community of Latin American and Caribbean States (CELAC) summit.
The EIB stated that the financed projects will include various environmental efforts, such as promoting renewable energy, improving the resilience of electricity transmission networks, financing waste management programs, and installing solar panels in private homes, SMEs, and local businesses.
The EIB, since commencing its operations in Latin America in 1993, has offered around €13billion in support of more than 150 projects in 15 countries within the region.
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