The European Investment Bank Group has approved €7.9 billion in new financing for projects spanning innovation, infrastructure and partnerships outside the European Union.
The funding package includes €3 billion under the EIB’s TechEU initiative for projects ranging from expanding broadband connectivity to pharmaceutical research and development in Germany, the EIB announced on Thursday.
It also covers investment in energy-efficient and intelligent lighting in the Netherlands and life sciences projects — including biotechnology — across the EU.
EIB Group President Nadia Calviño said the projects were intended to support innovators to “scale up” and “compete globally.”
The EIB’s board also authorised projects in France focused on water management, social infrastructure and sustainable transport, including new trains and buses.
Other approvals included new schools in Finland, affordable housing in Slovenia, business finance in Italy and wind energy in Poland.
Ukraine and projects beyond the EU
Outside the EU, the EIB board approved financing for Ukraine’s private sector and reconstruction, including support for renewable energy, transport, digital infrastructure and businesses.
Further approvals included financing for companies across cocoa value chains in Côte d’Ivoire and road rehabilitation along the Trans-Caspian Transport Corridor in Kazakhstan.
The decisions were announced a day before the EIB Group’s annual Board of Governors meeting in Luxembourg, attended by EU finance ministers.
