European Investment Bank Approves €9.2 Billion in Financing to Accelerate Energy Transition

en.Wedoany.com Reported - The European Investment Bank (EIB) approved €9.2 billion in new financing this Friday to strengthen Europe's competitiveness, accelerate the energy transition, and deepen global strategic partnerships.

According to the announcement reviewed by Portugal's Jornal PT Green, of the package approved by the EIB's Board of Directors, €4.3 billion will be directed to businesses in Croatia, the Czech Republic, France, Greece, Italy, Poland, Romania, Slovakia, and Spain. The funds will be disbursed through local banks, primarily targeting small and medium-sized enterprises (SMEs) in the security and defense, space, energy, and agriculture sectors.

This round of financing also covers power grid projects in Germany and Greece, solar projects in Italy, urban heating infrastructure in Lithuania, a strategic railway link between Croatia and Hungary, as well as hospitals in France and Poland. The EIB stated that these investments aim to "reduce the EU's dependence on fossil fuels and strengthen Europe's energy autonomy."

Nadia Calviño, President of the EIB Group, stated: "The EIB Group's financing and guarantees support innovative European companies in their growth and expansion in key sectors, including energy autonomy, space, and security and defense." She added: "Europe is turning words into action, investing with purpose and delivering on projects."

Outside the EU, the EIB also approved financing for power grids in Brazil, solar and battery storage projects in Egypt, and funding for women smallholder farmers in Kenya and Rwanda. The Bank stated that these investments collectively reinforce the EU's "Global Gateway" strategy and "help strengthen sustainable economic partnerships around the world."