The funding will support the acquisition of 145 electric buses, replacing the oldest vehicles in the fleet that are nearing the end of their service life. In addition to the buses, the loan will enable EMT Valencia to install essential charging and electricity infrastructure, enhance fire safety systems, upgrade IT facilities, and expand parking capacity at existing depots.

This investment will reduce the carbon footprint of the transport sector, while also lowering noise, pollution, and greenhouse gas emissions. It will also enhance the quality of public transport in Valencia and surrounding areas, offering a cleaner, more sustainable option to meet the growing urban mobility needs of local residents.

The project is aligned with the EIB Group's efforts to promote more sustainable transport solutions and supports its goal of becoming the "Climate Bank." It also follows the EIB's Transport Lending Policy, which focuses on improving the sustainability and resilience of existing transport infrastructure, as well as supporting new sustainable mobility initiatives.

As part of its broader strategy, the EIB finances projects that drive greener, safer, and more accessible transport options. The updated Transport Lending Policy, adopted in 2022 as part of the Climate Bank Roadmap and the European Green Deal, outlines investment priorities aimed at addressing the transport sector's challenges and accelerating the shift towards a more sustainable model. Sustainable transport, according to the EIB, must be safe, accessible, green, and efficient.