At the 2024 Cities Mission Conference, the Commission announced the launch of the Climate City Capital Hub. The Hub will serve as an international finance resource, supporting cities participating in the EU Mission on Climate-Neutral and Smart Cities. It will offer cities financial advice, project funding strategies, and connections to various capital providers, with particular focus on engagement with private capital.
The European Investment Bank (EIB) has dedicated a lending envelope of EUR 2 billion to support cities with Cities Mission Label with sustainable projects, including sustainable mobility.
So far, 33 cities have received the EU Climate-Neutral and Smart Cities Label. This recognises their successful Climate City Contracts, co-created with local stakeholders, outlining their plans to achieve climate neutrality. The submitted investment plans total EUR 114.1 billion, averaging EUR 3.6 billion per city. The Commission is now reviewing 23 more contracts.
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