The European Investment Bank last year committed €11.1bn in environmental loans, according to its latest environment report, in line with its target for environmental lending to account for 30-35% of all lending. Even so, environmental lending was lower than in 2003 both in absolute and relative terms. Some €530m went to renewable energy projects in 2004, or 36% of all electricity investment funding. In 2004 the bank committed to increasing this share to 50% by 2010 (EED 04/06/04). Earlier this year, environmental groups challenged the bank's figures on renewable energy lending (EED 03/06/05). See report.
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