To grow in the ecological transition, the public sector needs fresh cash injections European Commission , European Investment Bank (AT) to this end they signed a 10 billion euro agreement with the loan formula for the public sector. The agreement opens the door for EU entities to also benefit from another 1,5 billion in grants from the Commission. The subsidies are aimed at the areas or regions of the Member States that most need money to approach the ecological and energy transition. The climate changes to be faced, the EU assessed, require projects and economic resources to be spent quickly. On the one hand, the loan system mitigates the UN's criticisms of low public investments against the climate. “We need to triple investments in renewables” said the UN Secretary General António Guterres al Sixth Austrian World Summit. A strong call that did not exclude multilateral development banks, development finance institutions or commercial banks. Everyone must intensify and drastically increase investments in renewables.
The ecological transition requires investment in the medium term
Elisa Ferreira, Commissioner for Cohesion and Reforms who pushed for the agreement with the EIB is convinced of the goodness of the choice: "the European Green Deal - she says - is our strategy for creating a climate-neutral economy and cohesion policy will help to achieve green goals fairly”. The agreement with the Bank includes conditions of preferential lending for projects that do not generate enough revenue to be financially viable. At stake, if public bodies (above all Italians) are in a position to underwrite the loans, should mobilize among the 18 and 20 billion investments over seven years. The Italian Minister of Transition Roberto Cingolani before the war in Ukraine had contemplated direct and indirect investments. Upstream, for regional presidents, mayors and heads of bodies of each EU member country, there had been notices to present proposals to the Commission, as they said, for 1,5 billion. The loan instrument - they explain in Brussels - is one of the three pillars of the mechanism for a just transition, with the aim of achieving climate neutrality in the EU by 2050. The initial structural deficit of public bodies is however prejudicial as the projects to get the money they have to coordinate with the territorial plans of the individual states. The wide-ranging objectives are the qualification of the areas on which the buildings stand with all the annexes for transport, sustainable mobility, low energy consumption. Also side by side will be plans to move away from fossil fuel use in facilities and convert carbon-intensive industries.
