Valencia already has a well-developed and easy-to-use bike hire system (Valenbisi). With the additional funding from EU funds, EMT Valencia is planning to set up a charging and electricity infrastructure as well as fire protection systems, IT systems and additional parking spaces next to the existing bus depots. Electric buses make a decisive contribution to the decarbonisation of transport. They offer a sustainable alternative for mobility in the city. They also reduce noise, pollution and greenhouse emissions.
Read also: Spain: 1.5 GW green hydrogen projects of DH2 Energy in Extremadura
The planned investments will promote the use of zero-emission vehicles and thus improve the quality of public transport services in the city of Valencia and the surrounding area. The project contributes to making transport in Europe more sustainable. It is aligned with the EIB's Transport Lending Policy, which emphasises greater sustainability, improved resilience of existing transport infrastructure and new projects for sustainable mobility.
EIB lends EUR 6.8 billion for green projects in Spain
In line with its transport lending guidelines, the EIB is supporting projects that make the transport sector greener. The European Investment Bank is an EU institution and provides long-term financing. Its shareholders are the Member States. It therefore provides funds for investments that contribute to the EU's core objectives and promote the transition to climate neutrality. In 2023, the EIB Group lent around 6.8 billion euros to Spain for climate action and environmental sustainability projects. (nhp)
See and subscribe: Investor newsletter – ELTIF offers new opportunities for investors
