BAKU, Azerbaijan, November 21. The European
Investment Bank (EIB) has renewed its cooperation agreement with
UITP, the International Association of Public Transport,
reaffirming a joint commitment to advance decarbonisation,
strengthen the European economy and drive digital transformation
across the transport sector, Trend reports via the EIB.
The renewed partnership will support collaboration on innovative
strategies and the exchange of expertise in sustainable and urban
mobility. According to the EIB, the continued cooperation aims to
ensure that joint efforts contribute to shared European objectives,
particularly in modernising public transport systems and improving
urban mobility. Both organisations will also continue engaging with
stakeholders and promoting best practices across Europe’s public
transport networks.
The EIB has been steadily expanding its environmental portfolio,
with 60% of its financing directed toward sustainability-related
projects. Transport investment remains a major pillar of this
effort: last year, the Bank allocated roughly €8 billion to
lower-carbon transport initiatives.
In October 2025, the EIB announced the second phase of its
Climate Bank Roadmap, aiming to mobilise more than €1 trillion in
climate-related investment by 2030. Under this strategy, the Bank
plans to scale up financing for electric and hydrogen buses,
autonomous mobility solutions and low-carbon urban transport
technologies.
