(Corrects first paragraph to say .. reported on Sunday ..not.. reported on Saturday)
July 17 (Reuters) - The lending arm of the European Union said it will cut its funding on road infrastructure to stay in line with its climate goals, the Financial Times reported https://on.ft.com/3zbX1w8 on Sunday.
The European Investment Bank (EIB) will invest less in roads and more in "other elements" of transport infrastructure, EIB's vice president Kris Peeters, told the Financial times in an interview on the sidelines of a Group of 20 officials' meeting in Bali on Friday.
The EU had pledged to spend at least 20% of its 2014-2020 budget on measures to limit climate change, and by its own account hit that goal exactly, spending 216 billion euros ($233 billion) in the period..
By 2025, the EIB wants over half of its lending activity to support green projects, to help leverage 1 trillion euros of investment this decade. https://reut.rs/3Of8XSn ($1 = 0.9914 euros) (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Hugh Lawson)