Executive Vice-President Timmermans at the European Investment Bank in Luxembourg

Today, Frans Timmermans, Executive Vice-President for the Green Deal will visit the premises of the European Investment Bank in Luxembourg where he will address the EIB staff. To achieve the ambition set by the European Green Deal, there are significant investment needs. We will only be able to meet these investment needs if we mobilise both the public and private sector. In this regard, the EIB will be a main partner, acting as a pool and magnifier of public investments and as an extra security for private investments. The EIB set itself ambitious targets, including doubling its climate investment target from 25% to 50% by 2025 and committing to end financing for fossil fuel energy projects from 2021 onwards, thus becoming Europe’s climate bank. After the staff meeting, Frans Timmermans will have a working dinner with the EIB President Werner Hoyer.