At the TTE Council Meetings in Brussels on 1 December, Vice-President of the European Investment Bank (EIB) Pim van Ballekom together with EU Commissioner for Transport Violeta Bulc presented a new “Cleaner Transport Facility” (CTF), aimed at financing the decarbonisation of the transport sector in Europe.

The support for alternative fuels and cleaner technology in transport is aligned with European Union policies on climate action and sustainable transport, and specifically the recently-adopted strategy of the European Commission on low-emission mobility. The CTF is a new umbrella initiative targeting the deployment of alternative fuels in the transport sector. Its objective is to support the accelerated deployment of cleaner transport vehicles and their associated infrastructure needs, such as for charging and refuelling, which are expected to foster socio-economic benefits including reduced health costs due to cleaner air and lower noise.

The first project under the facility is expected to be signed early next year and will support the purchase of new hydrogen fuel cell buses, trolley buses and associated infrastructure in Riga, Latvia.

The full press release is available here

Source: EIB