The European Investment Bank (EIB) has signed an agreement with Danish bank Ringkjøbing Landbobank to provide small and medium-sized enterprises with $108.6 million to support their green transition.
The investment will support renewable energy and sustainability projects, as well as energy efficiency improvements, Rigzone reports.
"We can provide this support by financing investments that will take our customers to the next level of green transition in their industry," said Ringkjøbing Landbobank CEO John Fisker.
About 25% of this amount will be used for projects directly related to the green transition in Denmark and the EU.
EIB Vice President Thomas Ostros emphasized that the green transition is accompanied by special financing challenges, and such cooperation will help support environmental efforts.
"A top priority for the EIB Group is to ensure that businesses have access to the right type of financing," he added.
Although the financing is intended mainly for SMEs, it will be available to larger enterprises. Ringkjøbing Landbobank can determine the distribution of intermediary loans in this structure.
Earlier, EcoPolitic wrote, that the European Commission has approved a program to allocate €300 million for Poland to support workers who will lose their jobs due to the closure of coal mines and power plants.
As EcoPolitic reported earlier, a report by the World Meteorological Organization (WMO) stated that during 2025-2100, the total cost of inaction is estimated at $1266 trillion, which means that the price of climate action is lower than inaction.
