European Investment Bank (EIB) has partnered with Valencia’s Empresa Municipal de Transportes, EMT, to reinforce sustainable urban transport in the region by offering a loan of €69 million. Funding will support EMT Valencia’s electric bus fleet expansion while reducing emissions and making cleaner, efficient transportation for the city.
Supporting Sustainable Public Transport
The loan supports buying 145 electric buses, replacing aging vehicles and bringing cleaner, more sustainable public transport to Valencia. This upgrade brings cleaner, quieter, and greener public transport, improving daily commutes for Valencia and surrounding communities. The project demonstrates a commitment by the city toward offering sustainable alternatives to citizens for their urban mobility requirements.
Infrastructure Upgrades and Enhancements
Beyond the purchase of electric buses, the EIB’s financing will support significant infrastructure upgrades. EMT Valencia will install advanced charging stations, electricity supply systems, and fire safety facilities. The project also upgrades IT systems and adds parking spaces, ensuring smooth integration of the new electric bus fleet.
Environmental and Urban Impact
Transitioning to electric vehicles and expanding the required infrastructure will deliver notable environmental benefits. The initiative is supposed to reduce greenhouse gas emissions, noise, and air pollution, thus making the urban environment a healthier one. The zero-emissions fleet will further improve the quality and reliability of public transport for citizens.
EIB’s Support for Sustainable Transport
This project is in alignment with the EIB strategic priorities as the EU’s Climate Bank. The EIB transport lending policy focuses on the investment in sustainable and resilient transport infrastructure. Updated 2022, the transport lending policy promotes green, safe, accessible, and efficient systems of transport, aligned to the European Green Deal.
Also read: EIB and Iberdrola Partner on €100 Million Green Loan for Photovoltaic Plant in Sicily
Driving the Shift to Greener Mobility
This shows that the EIB is committed to tackling challenges in the transport sector and speeding up the transition to greener mobility solutions. A partnership with EMT Valencia highlights the importance of collaborative efforts towards advancing sustainable development and, more importantly, at a local level, in mitigating climate change.