The European Investment Bank (EIB) is significantly increasing its focus on defence and security projects within the EU, its Vice-President, Robert de Groot, told the Walloon Parliament’s European Affairs Committee on Thursday.
De Groot highlighted the EIB’s growing involvement in these strategic sectors, which are especially important to the Walloon region.
Following the outbreak of war in Ukraine, the EIB has stepped up its contributions to EU security and defence projects. Investment in these areas is expected to reach €3.5 billion by the end of this year, a sevenfold increase from €500 million two years ago.
The EIB group, which includes the bank itself and the European Investment Fund, is committed to supporting Walloon projects, particularly in research and the space sector.
For instance, €37.5 million was recently allocated to Aerospacelab, a Walloon satellite manufacturer, at the end of September. Discussions are also ongoing with Belgian authorities to back military mobility and infrastructure initiatives.
Beyond security and defence, the EIB has provided significant support to projects in Wallonia. These range from modernising the energy grid - managed by Ores - to post-flood reconstruction efforts totalling over €1 billion, and investments in public housing.
Willy Borsus, President of the Walloon Parliament, described the EIB as “a key financial player for business growth in both the private and public sectors,” adding that their last representative visit to the parliament was in 1992.
Since 2019, the EIB group, including its venture capital arm, has financed over €3.6 billion in Wallonia. This includes loans, investments, and guarantees aimed at supporting EU strategic goals, such as innovation and strategic autonomy.
De Groot also emphasised the necessity of fostering innovation, despite its inherent risks. He called for more private investment to complement public funding, underscoring the need for a stronger capital markets union across Europe. This, he argued, is vital to ensure capital flows efficiently to businesses in need.
