Saturday, April 13, 2024
 
 

Climate Action: EIB finances 40 new electric trains in Italy

EPA-EFE/SIMONE ARVEDA
A train enters the San Martino tunnel, on the Genova Brignole-Genova Quarto railway line in Genoa, Italy.

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The European Investment Bank (EIB) has provided a €68 million loan to Ente Autonomo Volturno (EAV), Campania Region’s railway management authority, to purchase 40 new electric trains, the European Commission said on 10 January. The new fleet will be deployed on the six lines of the Circumvesuviana, the railway network serving Naples and the province of Naples, and will help significantly relieve traffic congestion and reduce pollution in the entire area.
This project is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
“This €68 million loan for the purchase of 40 new trains for the Circumvesuviana network will help meet the daily needs of the people of Naples and promote the cultural life and economic development of the Naples region,” European Economy Commissioner Paolo Gentiloni said. “The European Union supports its regions and through the Investment Plan continues to deliver tangible benefits for its citizens. We are now working to step up and expand these kinds of operations, which skilfully marry our development goals with climate action.”
As of December 2019, the Investment Plan had mobilised €458.8 billion of investment across the EU, including €69.5 billion in Italy, and supported more than one million start-ups and small and medium businesses.
 

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Co-founder / Director of Energy & Climate Policy and Security at NE Global Media

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