(MENAFN- Trend News Agency) 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.

MENAFN21112025000187011040ID1110378309