The European Investment Bank Group has approved €6 billion in new financing for projects including renewable energy, power grid upgrades, climate-resilient agriculture and support for small businesses across Europe.
The package includes backing for renewable energy in Austria and electricity grid upgrades in Germany, as well as energy efficiency improvements for buildings in Slovakia and Sweden, the EIB informed in a statement.
It also approved financing for a new food manufacturing facility in Portugal, alongside research and development to create new field crop and vegetable seed varieties designed to improve yields and cope better with climate-related stresses.
Support for small and medium-sized businesses — firms with fewer than 250 employees — was included for Spain and Slovakia, with a focus on companies in less-developed regions.
“Clean energy is central to Europe’s security and competitiveness. These new EIB Group investments in grids, renewables and efficiency will help to ensure our energy independence,” EIB Group President Nadia Calviño said.
Housing, hospitals and other projects
Other projects approved by the EIB Board include affordable housing in Italy, the extension and rehabilitation of drinking water networks in the Netherlands, hospital upgrades in France and Spain, and port infrastructure upgrades in Lithuania.
Separately, the European Investment Fund (EIF) — part of the EIB Group that supports investment in businesses — approved investments in Central and Eastern Europe including a deeptech technology transfer fund, an infrastructure fund focused on renewable energy, and four guarantee transactions intended to help unlock financing for small and medium-sized firms.
The EIF Board also re-appointed Calviño as its Chair, the EIB said.
