Moving from political messages to real action for a green transition

Only if we unite our efforts can we achieve the speed towards the transition to green energy, said Lilyana Pavlova, Vice President of the European Investment Bank (EIB), during the conference.

We need to move from political messages to real actions to achieve our goal and have a just transition, she said.

When we talk about finances - we should know that money is available through European grant funds and European financial institutions. The question is how to mobilise and direct them where they are needed, Pavlova said. We also need to ensure that there is no overlap of investments, she added. We also need to shatter the myth that we can rely only on grants, not because they are bad, but because they have in some form "spoiled" society and business, that there is "easy money" to be absorbed quickly, without looking at whether there is benefit for society and added value, she said.

The future in funding will be linked to reform linkages and whether there will be buy-in from whoever proposes the project. Grants will remain where they cannot - basic infrastructure and support for the least developed regions. Funding should serve as a catalyst for private investment and for attracting money from the banks. European financial institutions will help by sharing the risk of investment and it will be easier for companies to gain strength, Lilyana Pavlova said.

/BJ, CM/