The European Investment Bank (EIB) has approved €4 billion (£3.5m) of new financing for transport, clean energy generation and access to clean water projects in 18 countries.

They include sustainable urban transport projects to increase the use of electric buses, trams and metro services in Rotterdam and Marseille and credit lines to enable energy efficiencyinvestments in Denmark.

The funding will also support the construction and operation of two new wind farms off the French coast at Saint Nazaire and Fecamp, with a total capacity of 1GW as well as the modernisation of district heating and energy efficiency improvements in Belarus.

EIB President Werner Hoyer said: “The EIB is Europe’s climate bank, the largest public investor in climate action in the world. A changing and more uncertain climate threatens lives, livelihoods and essential services around the world.

“I am pleased that the EU bank today agreed to support new projects around the world that will better protect millions of people from future extreme weather events.”