(BRIEF) The European Investment Bank (EIB) has signed a €49 million loan agreement with the city of Split to support its 2023-2027 multi-sector investment programme aimed at revitalising public infrastructure. This is the EIB’s first flagship municipal operation in Croatia and offers the first tranche of a €150 million loan framework agreement with Split. The investment programme will promote sustainable urban renewal through the renovation of public buildings, the improvement of urban mobility and the modernisation of public and green spaces. Teresa Czerwińska, Vice-President of the EIB, highlighted the EIB’s commitment to improving public facilities and creating a more sustainable environment, benefiting the city’s citizens and attracting investors. The agreement is expected to boost the absorption of EU subsidies, strengthen Split’s attractiveness and generate job opportunities.
(PRESS RELEASE) LUXEMBOURG, February 2, 2024 — /EuropaWire/ — The European Investment Bank (EIB) has signed a €49 million loan with the city of Split to co-finance its 2023-2027 multi-sector investment program for renew public infrastructure. infrastructure. The operation will contribute to providing better public facilities in Croatia’s second largest city and the quality of life of its 180,000 inhabitants.
This is the EIB’s first flagship municipal operation in Croatia and offers the first tranche of a €150 million framework loan agreement with the city of Split. It will promote sustainable and embodied urban renewal and progress through the renovation of public buildings, urban mobility and the modernisation of open and green public spaces.
“Offering more public facilities to Europeans and making their environment more pleasant and sustainable is a precedent for the EIB, the European Climate Bank,” said EIB Vice-President Teresa Czerwińska. “We are very happy to help the city of Split in its efforts to make Croatia’s second largest city a better position to live and do business. The investments planned through the city will in fact contribute to the ecological progress of urban infrastructure and the quality of social facilities, such as public schools and kindergartens, thus making life more comfortable for the other inhabitants of Split.
The deal will help Split absorb EU subsidies more quickly, increase the city’s attractiveness to investors and residents, and create thousands of new jobs.
Under the EIB’s framework loan, the Bank will support eligible investment projects to renovate public buildings and open spaces by increasing energy power and technical equipment for public data and communication. It will also help investments in smart shipping solutions for access to sustainable public transport and cycling.
The EIB is also ready to provide technical and advisory assistance to help successfully implement the municipal infrastructure framework loan agreement.
Split Mayor Ivica Puljak outlined how the favourable, flexible terms of the framework agreement will accelerate the city’s urban development. He expressed his satisfaction with the arrangement, saying,
“As the mayor of the first city in Croatia to benefit from an EIB framework loan, I am incredibly satisfied and proud today. This type of loan provides Split with a strong progression drive for the coming years. These loans have long been used in cities in the European Union to build their urban infrastructure. We are the pioneers in Croatia. “
Background information
EIB
The European Investment Bank (EIB) finances sound investments that contribute to the EU’s policy objectives. The EIB projects competitiveness, stimulates innovation, promotes sustainable development, social and territorial team spirit and supports a just and immediate transition to climate neutrality.
The EIB Group, which is also the European Investment Fund (EIF), signed a total of €88 billion in new financing for more than 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investments, supporting 400,000 businesses and 5. 4 million jobs.
All projects financed through the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not finance investments in fossil fuels. We are on track to deliver on our commitment of €1 trillion in climate and environmental sustainability investments in the 2030s, as promised in our Climate Bank Roadmap. More than a fraction of the EIB Group’s annual financing projects that contribute directly to the climate replace mitigation, adaptation and a healthier environment.
Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.
The City of Split is the second largest city in Croatia. With a population of nearly 180 000, it is the largest city in the Split-Dalmatia region and the entire Dalmatian coast on the Adriatic Sea in south-eastern Europe. With its important cultural heritage sites, and as the site of an international airport and main ferry port, Split is a major transport hub for tourism traffic flowing to popular summer holiday destinations.
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SOURCE: European Investment Bank
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