The European Investment Bank's support for Europe's energy sector continues; The Bank's Board of Directors took the decision to approve the allocation of 5.5 billion euros to support several areas, including clean energy, sustainable transportation, and school modernization.

The energy financing portion of that support package came in the form of an investment in a factory specializing in electric vehicle batteries; Which leads to reducing carbon emissions and thus reducing forest fires on the one hand and achieving sustainability on the other hand.

Regarding sustainability, the European Investment Bank agreed to grant Spain a loan of 265 million euros in the field of sustainability and green transformation and to focus on raising energy efficiency in Spain.

Earlier this year – specifically in early January – the European Investment Bank allocated 400 million euros to invest in renewable energy, both solar and photovoltaic, in Europe in general and Greece in particular, which is expected to lead to the production of 2.6 gigawatts of energy. The new energy capacity will be added to Europe.