EIB Board approves €2.4 billion of financing for business innovation, energy grids, flood resilience and transport

The European Investment Bank (EIB) approved €2.4 billion of new financing for business investment, clean energy, transport, telecommunications and flood protection in Europe.

The EIB Board of Directors also discussed the strategic orientation of EIB Global. Reflecting the changing geopolitical context and even better aligning with EU external policy priorities, the Bank’s investments outside of the EU will continue to contribute to a stronger Europe in a more stable, more prosperous, and sustainable world.

The Board examined ways to further increase support for electricity networks in Europe. In 2024, the Bank mobilized over €100 billion of additional investment for energy and financed a record high of €8.5 billion for electricity grids, which mobilized 40% of total EU investment in electricity grids.

“We are ahead of the investment targets of the RePowerEU programme to bring cheaper and clean energy to European households and businesses. Last year the EIB marked a record in investment in energy grids and interconnectors, to bolster Europe’s competitiveness and security”, said EIB Group President Nadia Calviño.

Energy networks, flood defenses

The first EIB Board of Directors of the year approved financing totaling €791 million to expand hydrogen production for transport, strengthen electricity distribution, and improve flood protection in Poland.

This includes funding to boost research into and development of hydrogen and to increase the number of hydrogen refueling stations for cars and trucks. In support of Ukraine, the Board paved the way for financing of €100 million to repair damaged municipal heating infrastructure in the country.

Outside the EU, the EIB agreed to provide financing to upgrade and extend electricity distribution in Panama. The goal is to increase renewable/energy use, bolster grids, and expand power distribution to unserved communities in the country.

Green innovation

The Board also approved financing totaling €879 million for innovation and investment by businesses to improve energy efficiency and environmental sustainability. This includes backing automotive component research and development at 15 manufacturing sites across Europe and low-carbon glass production in France and Spain.

The EIB endorsed a new securitization scheme to support Dutch business investment in climate action and environmental sustainability.

Better connections

The Board agreed to €768 million in financing for transport and telecom networks in the EU and beyond. In Colombia, the Board approved EUR 418 million for the construction of and the acquisition of trains for Metro Line 1 in the capital Bogota – a service expected to carry more than 1 million passengers a day when operational. The Board also gave the green light for financing of €350 million to expand mobile phone networks across Italy.