European Investment Bank approves a record of €7.1 billion in new financing for EU tech leaders, energy security, defence as well as support for Ukrainian start-ups and small entrepreneurs
European Investment Bank approves a record of €7.1 billion in new financing for EU tech leaders, energy security, defence as well as support for Ukrainian start-ups and small entrepreneurs
EIB Group approves €7.1 billion in new financing for European tech leaders, energy security, defence and support for Ukraine
The Boards of Directors of the European Investment Bank (EIB) and the European Investment Fund (EIF) held meetings this week and approved a total of €7.1 billion in new financing to support the European Union’s (EU) technological leadership, boost investment in energy security and life sciences and back projects for climate adaptation and urban development in Italy, business support in Spain and sustainable transport in Greece.
The Board of the EIF approved the launch the 3Seas Fund-of-Funds facility to support infrastructure development in Central and Eastern Europe. The EIF also endorsed investments aimed at reinforcing Europe’s technological leadership, with a focus on life sciences, digitalisation and defence capabilities. More specifically, a total of 21 operations contributing to the TechEU initiative were approved, including the first-of-its-kind life sciences fund dedicated to therapeutics and medical technology for the central nervous system.
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TechEU is the EU’s largest financing programme to date in support of innovation and tech leadership to attract talent, capital and investment in Europe. TechEU will provide €70 billion in EIB Group equity, quasi-equity, loans and guarantees in 2025-2027 and crowd in private capital to generate at least €250 billion in investments.
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In addition, the EIB Board approved two new investments in venture capital funds aimed at supporting emerging start-ups and local entrepreneurs in Ukraine, as well as energy, transport and digital infrastructure. The EIF also approved an operation to facilitate access to finance for small businesses in Ukraine. Since the start of the Russian invasion, the EIB Group has provided €4 billion to Ukraine, repairing critical infrastructure, rebuilding schools, kindergartens, hospitals and securing the country’s energy supply.
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