In July 2025, the EIB and Neoenergia signed a contract to support the modernization of the electricity grid in Brazil's fifth largest state

The initiative supports Brazil's climate objectives and the European Union's Global Gateway Strategy

The agreement was announced during the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil

The electricity distribution network in the state of Bahia will be modernized with the support of a EUR 300 million loan granted by EIB Global - the development arm of the European Investment Bank Group - to Neoenergia Coelba, a distributor serving more than 6 million customers in 415 municipalities in Bahia.

The funding will be used to expand the electricity network and build new connections, as well as investing in automation equipment, contributing to the modernization of the distribution network. The company will use the loan granted by EIB Global to carry out projects that will allow more people, especially in low-income communities, to have access to clean energy in Bahia, the fifth largest state in the country, with a population of close to 15 million. The project is also in line with Brazil's goals of improving energy efficiency and expanding the use of renewable energy sources over the next decade.

In addition, the financing offers competitive commercial conditions and is the result of a rigorous technical and environmental due diligence process, representing a strategic opportunity available only to a select group of Brazilian companies that meet the highest international standards.

During the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil, representatives from the EIB and Neoenergia took part in a ceremony to celebrate the partnership, whose agreement was signed in July this year, highlighting the project's alignment with Brazil's climate objectives and the European Union's Global Gateway Strategy.

"This investment represents a crucial step towards strengthening Brazil's energy infrastructure, while supporting our shared global commitment to climate action," said Ambroise Fayolle, EIB Vice-President. "We are pleased to have the opportunity to support a project that strengthens the private sector, facilitates the connection of communities to renewable energy and sends a clear message about our partnership with Latin America in building a greener and more resilient future."

"The ceremony held during COP30 reinforces the strategic value of the partnership with the EIB and the alignment with global climate commitments. Thanks to this new project, which is already underway, Neoenergia will be able to intensify its investments in Bahia, with a focus on modernizing the distribution network throughout the state.This initiative will be key to ensuring that renewable energy reaches the communities of Bahia safely and efficiently, while also strengthening our goal of promoting equitable access to clean energy," explained Solange Ribeiro, vice-president of Neoenergia.

The project, which is to be implemented over the next few years, is part of the Green Deal signed between the European Union and Brazil, and is also of strategic importance to the EU as part of its Global Gateway investment program.

The project reinforces Brazil's commitments under the Paris Agreement, signed in 2015 to combat climate change, and contributes to the 2030 Agenda for Sustainable Development, adopted by the United Nations.

Global Gateway

The Global Gateway is the European Union's positive proposal that seeks to reduce global disparities in terms of investment, promote smart, clean and secure connections in the digital, energy and transport sectors, and strengthen health, education and research systems. The Global Gateway Strategy brings together the EU, Member States and European development finance institutions, which together aim to mobilize up to EUR 300 billion in public and private investment between 2021 and 2027.

The EIB Group at COP30

An overview of the EIB Group's activities at the United Nations Climate Change Conference, known as COP30, is available on the organization's website. The EIB Group shares a pavilion with the group of multilateral development banks. The full program can be found here.

EIB Group Climate Bank Roadmap - Phase 2

The EIB Group is moving ahead with the second phase of its innovative Climate Bank Roadmap, consolidating its position as the leading financier of the green industrial revolution, energy security and shared prosperity.Following the great success of the Climate Bank Roadmap since its launch in 2020, the second phase of the roadmap defines the EIB Group's priorities until the end of this decade, supporting Europe's competitiveness, security and technological leadership, doubling financing for adaptation measures while simplifying its procedures to accelerate green investment.

General information

The European Investment Bank (EIB) is the European Union's long-term financing institution, whose capital is held by the Member States. It finances investments that contribute to achieving the EU's strategic objectives, based on eight key priorities: climate action and the environment, digitalization and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, a stronger Europe in a more peaceful and prosperous world, and the Capital Markets Union.

The EIB Group, which also includes the European Investment Fund (EIF), has contracted almost EUR 89 billion in new financing for more than 900 high-impact projects by 2024, strengthening Europe's competitiveness and security.

Around half of EIB financing in the EU goes to cohesion regions, which have lower per capita income than the EU average, while around 60% of the EIB Group's annual investments support climate action and environmental sustainability.