The European Investment Bank (EIB), the EU funding agency, will no longer grant loans for the construction of new airports. Investments in roads are still possible, but the Luxembourg institute, one of the largest banks in the world, wants to take greater account of the negative effects of car traffic on the climate and therefore reject more projects. Both changes result from the so-called Climate Bank Roadmap, which the Board of Directors of the EIB recently approved. The strategy paper explains how the institute wants to become Europe’s climate bank. A year ago, the board of directors decided against opposition from Poland, Hungary and Romania that the EIB would no longer be allowed to support the construction of gas-fired power plants.
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