Latest news with #EuropeanInvestmentBank
Yahoo
4 days ago
- Business
- Yahoo
EIB to provide €400m loan for Stockholm metro expansion
The European Investment Bank (EIB) has announced that it will contribute approximately €400m ($455.5m) in additional financing for the expansion of the Stockholm metro in Sweden. The funding is allocated between two recipients, with the Region of Stockholm receiving Skr2.5bn ($262.9m), and the City of Stockholm to be granted Skr2bn (210.3m). The additional loan will bring EIB's total investment in the project to more than €1bn. The Stockholm metro expansion project includes the construction of three new sections, totalling 30km, with 20km of double-track tunnels and 18 new stations. This is among the largest metro expansion projects currently in progress in Europe and one of the largest infrastructure projects in Sweden, financed by the European Union. It also marks the largest investment the EIB has made in public transport within the country, according to the bank. It is anticipated that 130,500 housing units will be developed along these new metro lines. EIB vice-president Thomas Östros said: 'This investment boosts both sustainable mobility and regional development. By providing an additional loan, we are demonstrating our long-term commitment to climate-smart investments in Europe's growing cities. This project is an excellent example of how EU funding can benefit both people and the climate.' The project will be developed across the municipalities of Stockholm, Nacka, Solna, and Järfälla, aiming to provide sustainable and efficient public transport for the region's expanding population. Currently, 730,000 individuals utilise public transport in the county on a daily basis. City of Stockholm director general Fredrik Jurdell said: 'The EIB's continued commitment to this financial partnership reaffirms the importance of the metro expansion project for sustainable growth in the capital and the surrounding areas. The new metro meets the needs of future generations in terms of transport and mobility, but also with regard to housing, given that housing units will be built as part of the project.' Earlier this month, the EIB announced a financing package of €400m to facilitate the development of a new tramline in Helsinki, Finland. This initiative is designed to improve public transport connectivity to the eastern suburbs of Laajasalo, Korkeasaari, and Kalasatama. "EIB to provide €400m loan for Stockholm metro expansion" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mint
6 days ago
- Health
- Mint
No one's safe until everyone's safe: This covid mantra retains relevance
The covid crisis taught the world fundamental lessons about the importance of global cooperation to fight disease. But that cooperation is under strain, as are the conditions needed to sustain it. Future funding for health and science is being called into question, and cuts to development assistance by some traditional donors are casting doubt on our ability to prevent and respond to infectious diseases in the world's most fragile countries. To ensure future resilience to pandemics, these gaps must be filled. The key to success lies in strong, innovative new partnerships between multinational organizations, private- and public-sector institutions and civil society. We already know from recent experience that strong global partnerships work. Five years ago, we managed to overcome vaccine nationalism (the hoarding of limited supplies) in formulating the global response to covid. Also Read: The princess who built India's healthcare system Gavi, a global alliance of public, private and civil-society groups, partnered with the European Investment Bank Group, which is the financing arm of the European Union, owned by its 27 member states, to mobilize €600 million ($720 million) in donor funding toward the Covax initiative. Without this funding, Covax would not have been able to move at the speed and scale that ultimately delivered nearly two billion vaccine doses. More than 100 (mainly) developing countries benefited because we had the foresight to respond to the pandemic cooperatively. Nor were the benefits confined to these countries. Recall the mantra of the pandemic: 'No one is safe, until everyone is safe.' More widespread and prolonged shutdowns meant greater disruptions to supply chains and the global economy. The faster we could provide access to testing, monitoring and contact-tracing technologies, the better our ability to detect new variants of the virus and adapt accordingly. It was laboratory technicians in South Africa who first identified and called attention to the notorious Omicron variant. Also Read: Healthcare for all: Don't rely on insurance alone Recognizing the imperative to be even better prepared for the next pandemic, we have continued to build on this previous success. The European Investment Bank is providing Gavi with €1 billion in liquidity to accelerate access to vaccines for viruses with pandemic potential (such as Ebola) and to support routine vaccination against preventable diseases like measles, malaria and the human papillomavirus (HPV), which is globally a leading cause of cervical cancer. A new vaccine against tuberculosis could also be on the horizon. This innovative approach has also inspired others and catalysed their efforts. For example, the G7 development- finance institutions, together with the European Investment Bank, MedAccess, and the International Finance Corporation, are working on a new surge-funding instrument to mobilize vaccines, therapeutics, diagnostics and other medical goods that low- and lower-middle income countries will need to respond to future pandemics. Boosting regional vaccine production is a critical priority. Africa accounts for 20% of the world's population, but produces just 0.1% of the world's supply of vaccines. Building the continent's vaccine-manufacturing base is a key part of any strategy to strengthen overall pandemic preparedness. Here, too, the European Investment Bank's partnership and financial innovation are a game changer. Gavi's $1.2 billion African Vaccine Manufacturing Accelerator—backed by over €750 million from European governments, as well as institutions including the European Investment Bank—is designed to dismantle barriers to local vaccine production. To help Africa achieve vaccine sovereignty, the European Investment Bank is also directly financing production facilities in Ghana, South Africa, and Senegal, through the Institut Pasteur de Dakar. Also Read: PM-JAY: A successful model for both healthcare delivery and financial security By combining our expertise, the European Investment Bank-Gavi partnership helps countries build stronger health systems and improve their ability to respond to pandemics and save lives. As leaders of mission-driven organizations, we know that protecting global health demands bold action. By investing in innovation and ensuring that resources reach those who need them most, we can reduce the risk of future outbreaks, safeguard communities and create a world where health crises no longer derail lives and livelihoods. Viruses don't care about politics, visas, tariffs or wars. They respond to tough immune systems and effective vaccines. If we fail to ensure that all countries have the resources they need to identify new outbreaks and respond quickly, we will all be at risk. We cannot protect ourselves, our loved ones or our economies without global cooperation. Investing in innovative global health partnerships is our best defence against the next big outbreak, implying large returns in terms of worldwide stability and security. ©2025/Project Syndicate The author are, respectively, president of European Investment Bank and CEO of Gavi, the Vaccine Alliance.
Scottish Sun
23-05-2025
- Business
- Scottish Sun
Closed European seaside neighbourhood to reopen after £37million renovation with new beaches and kids playgrounds
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A COASTAL neighbourhood in Croatia is set to reopen following a £37million project. Žnjan in Croatia has been largely closed to the public since February 2024 due to a revitalisation project. 4 Žnjan is the largest beach in Split, Croatia Credit: Supplied 4 It will reopen in June, following being closed since February last year Credit: Supplied But now it will reopen on June 21 with a number of new amenities. The seafront will have landscaped beaches with over 800 trees and 13,000 shrubs as well as family-friendly areas including children's playgrounds. A video of what the beach will look like also includes climbing frames, palm tree lined paths, lookout points, a splash pad and beach lounger areas. A huge new amphitheatre will open alongside a new car park. New cafes and shops will also open, as well as toilets and changing facilities. Žnjan is known for being the largest beach in Split, with many activities for both children and adults. Along the beach, there are currently trampolines, bouncy castles and electric scooters. There are also a few beach bars and plenty of places to grab a coffee or meal. A promenade connects Žnjan with nearby Trstenik beach. According to Croatia Week, the redevelopment is the city's largest urban project in over 50 years. The pretty coastal city in Europe where you can kayak to hidden beaches has cheap easyJet flights When open, all facilities in at Žnjan will be free and accessible to both locals and visitors. The project was backed by the European Investment Bank (EIB) and local development initiatives to make the area into one of the Adriatic's most iconic seaside destinations. Mayor Puljak said: "Žnjan is not just a beach – it is proof that Split has the knowledge, people and strength for large projects." Darijo Saric, Croatian travel expert and CEO of VIP Holiday Booker, said: "The transformation of Žnjan Beach is setting a new standard for luxury tourism on the Adriatic. "Once one of the largest beaches in the Mediterranean, it has now been completely revitalised to provide a premium seaside experience. "From an economic and cultural standpoint, the project is also expected to significantly boost local tourism, support small businesses, and further elevate Split as a luxury travel destination. "Žnjan isn't just a beach - it's becoming a destination." There is also a Croatian beach city with 'perfect' summer temperatures that has new Jet2 flights from the UK. Plus, the tiny European coastal town that used to be its own island that was named top 2024 hidden gem. 4 The beach features light golden sand Credit: Supplied
The Sun
23-05-2025
- Business
- The Sun
Closed European seaside neighbourhood to reopen after £37million renovation with new beaches and kids playgrounds
A COASTAL neighbourhood in Croatia is set to reopen following a £37million project. Žnjan in Croatia has been largely closed to the public since February 2024 due to a revitalisation project. 4 4 But now it will reopen on June 21 with a number of new amenities. The seafront will have landscaped beaches with over 800 trees and 13,000 shrubs as well as family-friendly areas including children's playgrounds. A video of what the beach will look like also includes climbing frames, palm tree lined paths, lookout points, a splash pad and beach lounger areas. A huge new amphitheatre will open alongside a new car park. New cafes and shops will also open, as well as toilets and changing facilities. Žnjan is known for being the largest beach in Split, with many activities for both children and adults. Along the beach, there are currently trampolines, bouncy castles and electric scooters. There are also a few beach bars and plenty of places to grab a coffee or meal. A promenade connects Žnjan with nearby Trstenik beach. According to Croatia Week, the redevelopment is the city's largest urban project in over 50 years. The pretty coastal city in Europe where you can kayak to hidden beaches has cheap easyJet flights When open, all facilities in at Žnjan will be free and accessible to both locals and visitors. The project was backed by the European Investment Bank (EIB) and local development initiatives to make the area into one of the Adriatic's most iconic seaside destinations. Mayor Puljak said: "Žnjan is not just a beach – it is proof that Split has the knowledge, people and strength for large projects." Darijo Saric, Croatian travel expert and CEO of VIP Holiday Booker, said: "The transformation of Žnjan Beach is setting a new standard for luxury tourism on the Adriatic. "Once one of the largest beaches in the Mediterranean, it has now been completely revitalised to provide a premium seaside experience. "From an economic and cultural standpoint, the project is also expected to significantly boost local tourism, support small businesses, and further elevate Split as a luxury travel destination. "Žnjan isn't just a beach - it's becoming a destination." There is also a Croatian beach city with 'perfect' summer temperatures that has new Jet2 flights from the UK. Plus, the tiny European coastal town that used to be its own island that was named top 2024 hidden gem. 4 4
The Irish Sun
23-05-2025
- Business
- The Irish Sun
Closed European seaside neighbourhood to reopen after £37million renovation with new beaches and kids playgrounds
A COASTAL neighbourhood in Croatia is set to reopen following a £37million project. Žnjan in 4 Žnjan is the largest beach in Split, Croatia Credit: Supplied 4 It will reopen in June, following being closed since February last year Credit: Supplied But now it will reopen on June 21 with a number of new amenities. The seafront will have landscaped beaches with over 800 trees and 13,000 shrubs as well as family-friendly areas including children's playgrounds. A video of what the beach will look like also includes climbing frames, palm tree lined paths, lookout points, a A huge new amphitheatre will open alongside a new car park. Read more on Croatia New cafes and shops will also open, as well as toilets and changing facilities. Žnjan is known for being the Along the beach, there are currently trampolines, There are also a few beach bars and plenty of places to grab a coffee or meal. Most read in News Travel A promenade connects Žnjan with nearby Trstenik beach. According to The pretty coastal city in Europe where you can kayak to hidden beaches has cheap easyJet flights When open, all facilities in at Žnjan will be free and accessible to both locals and visitors. The project was backed by the European Investment Bank (EIB) and local development initiatives to make the area into one of the Adriatic's most iconic Mayor Puljak said: "Žnjan is not just a beach – it is proof that Darijo Saric, Croatian travel expert and CEO of VIP Holiday Booker, said: "The transformation of Žnjan Beach is setting a new standard for luxury tourism on the "Once one of the largest beaches in the "From an economic and cultural standpoint, the project is also expected to significantly boost "Žnjan isn't just a beach - it's becoming a destination." There is also a Plus, the 4 The beach features light golden sand Credit: Supplied 4 The project has cost £37million Credit: Supplied
