The European Investment Bank (EIB) plans to allocate hundreds of millions of euros to additional financing for Irish projects targeting climate change, with a new focus on lending to local authorities.

The bank, an investment lender that is jointly owned by the EU member states, is committed to increasing support for climate action with local authorities, businesses and other partners, said its top figure in Ireland at the Independent Sunday.

“In the coming years, hundreds of millions of new and green finance will be available for future climate investments in Ireland,” said Cormac Murphy, Director of the EIB Group Office for Ireland.

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