European Investment Bank

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Cumulative

Project-Specific Cofinancing $2.3 billion

Partnership Framework Arrangement

Signing Date 2 November 2021

Completion Date 2 November 2026

The European Investment Bank (EIB) seeks to promote development, particularly focusing on climate change mitigation, economic and infrastructure development, renewable energy, urban transport, and water. The EIB Climate Roadmap was finalized to set the bank’s climate finance goals that support the European Green Deal and help make Europe carbon-neutral by 2050. It also started its transformative action to be recognized as the European Union’s climate bank. The EIB has developed a strong Oceans Program, closely aligned with ADB’s Healthy Oceans Action Plan. The common countries where ADB and EIB operate are Armenia, Bangladesh, Fiji, Georgia, India, the Lao People’s Democratic Republic, Maldives, Mongolia, Nepal, Papua New Guinea, Sri Lanka, and Viet Nam.

Highlights

Knowledge. During the 2023 United Nations Climate Change Conference (COP28), multilateral development banks, including ADB and EIB, made a joint statement affirming their commitment to strengthening collaboration with clients, development partners, civil society, the private sector, and others to reduce poverty and inequality and address the crises.

News

29 Jun 2020

ADB to Help Redevelop Two Subcenters in Ulaanbaatar's Ger Areas

ADB has approved loans totaling $43.7 million as part of a program to support the redevelopment of two additional subcenters in the eastern and western ger areas of Ulaanbataar, Mongolia. The financing is the third tranche of the Ulaanbaatar Urban Services and Ger Areas Development Investment Program. It supports the Ulaanbaatar city master plan to redevelop the capital city’s ger areas.

15 Jan 2021

ADB, EIB Join Forces to Protect Oceans, Support the Blue Economy

ADB and EIB formed a Clean and Sustainable Ocean Partnership to support initiatives in Asia and the Pacific to help meet the SDGs and the climate goals of the Paris Agreement. They will finance activities promoting cleaner oceans through the reduction of land-based plastics and other pollutants discharged into the ocean, as well as projects to improve the sustainability of socioeconomic activities that take place in oceans or use ocean-based resources.

Stories

Clean and Stable Water for Dhaka

ADB and partners, Agence Française de Développement and EIB, are funding the development of a new surface water supply scheme for Dhaka, which includes more efficient and sustainable systems for water intake, treatment, transmission, and distribution. The project will also pursue the empowerment of women and vulnerable groups in low-income communities.

Solar Power for a Greener Energy Sector

Maldives is transitioning to renewable energy through a partnership among ADB, EIB, Japan Fund for Joint Crediting Mechanism, and Strategic Climate Fund. This technology is powered by a solar photovoltaic battery–based hybrid system and boosted with enhanced energy management systems, upgraded distribution grids, and supervisory control and monitoring systems.