The European Investment Bank is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome. As a "policy-driven bank" whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about European integration and social cohesion.
The European Investment Bank (EIB) has agreed to phase out lending for almost all fossil-fuel projects after 2021, including standard gas-fired power stations.
The bank is the first multilateral development bank to go so far in curbing fossil-fuel support due to climate change.
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