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#EIB to support €3.4 billion of new investment in business, innovation, agriculture and tourism

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The Board of Directors of the European Investment Bank (EIB) approved a total of €3.4 billion of new financing that will strengthen research and innovation and enable companies to expand and improve access to water, transport, and education. This will support new projects in 17 countries.

“Europe must build on its technological and scientific strengths and remain competitive for future generations. Today the EU Bank backed new investment that will allow world class companies to expand, scientists to improve medicine and healthcare, and ensure that research can flourish,” said European Investment Bank President Werner Hoyer.

Highlights of the EIB Board of Directors meeting include:

Accelerating research and innovation

The EIB agreed EUR 820 million of new financing to support innovation and combat climate change.

New projects will strengthen fundamental research in Poland and Germany, enhance neuroscience and back development of battery technology by Northvolt at their gigafactory in Sweden.

Supporting business and jobs

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The EIB approved more than €2bn of financing to support new investment by small and medium sized companies.

This will include dedicated credit lines to ensure that companies in vulnerable sectors can grow, and financing reaches programmes that target the specific investment challenges faced by female entrepreneurs, farmers, firms involved in the circular economy.

The EU Bank agreed financing for a new programme to support tourism investment in south-west France.

Trade across central Europe will also benefit from EIB financing to improve rail connections to the Slovenian port of Koper.

New EIB support will back local private sector financing initiatives with partners in Italy, Spain and Malawi.

Reducing flood risk and improving wastewater treatment

The EIB approved nearly €500 million of new support for water and river management investment.

Thousands of people living in communities vulnerable to flooding will benefit from new EIB investment to reduce the risk of flooding of the Waal River in the Netherlands and the Rio Salado in northern Argentina.

The EIB also agreed to support new investment to upgrade the sewage network in the Serbian capital city Belgrade.

€770 million of investment backed by the Investment Plan for Europe

Financing for five projects approved by the EIB board will be guaranteed by the European Fund for Strategic Investments (EFSI). This is expected to support overall investment totalling more than €2.8bn.

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its member states. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Overview of projects approved by the EIB Board

Overview of projects approved by the EIB Board of Directors following positive assessment by the EFSI Investment Committee

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