During the second plenary session in February in Strasbourg, Members of the European Parliament welcomed a new resolution on financial support of the European Investment Bank (EIB) for the EU.
On February 28th, EIB Group’s president Nadia Calviño presented a new strategy made of eight core priorities of interests after an intensive engagement between EIB and ministers or heads of government from all over EU. As Calviño explained during the debate, the strategy aims to build on the strengths of the EIB Group and to deploy the institution’s full potential.
In her address to EU lawmakers, President Calviño reiterated the key focus areas for the EIB Group’s activities:
- Reinforcing the EIB’s role as the Climate Bank, aiming to achieve 1 trillion euros in green investment by 2030 and allocating at least half of annual financing to climate action and sustainability. As a long-term financier and as an institution which has developed significant experience and expertise in financing climate action across Europe and globally, the EIB is uniquely positioned to provide investment for high quality low-carbon and climate-resilient projects, and to catalyze further finance.
- Expediting digitalization and technological advancement through initiatives like the Fund for the Acceleration of Strategic Technologies and Economic Resilience (FASTER), supporting investments in areas such as chips, AI, life sciences, and advanced materials.
- Enhancing the EIB Group’s involvement in defense and security, with a commitment to contribute more to European security, protection, and deterrence.
- Sustaining robust backing for investment in cohesion regions, with a significant portion of EIB lending within the EU already allocated to such regions, including projects for just transition.
- Pioneering innovative financing for agriculture and the bioeconomy, maximizing the impact of existing tools and developing new flagship products like insurance or de-risking schemes for European farmers.
- Reinforcing support for social infrastructure encompassing healthcare, education, and affordable housing.
- Using the EIB’s resources, expertise, and capital markets status to advance the capital markets union.
- Directing EIB activities outside the EU towards Ukraine, the enlargement process, neighborhood countries, and Global Gateway projects.
Before the discussion, President Calviño engaged in collaboration enhancement by signing a Memorandum of Understanding with European Parliament President Roberta Metsola. This agreement aims to strengthen and intensify cooperation in order to be prepared for the forthcoming European elections in June. The collaboration primarily targets communication and outreach endeavors, aiming to deepen public comprehension of the European Union’s benefits for its citizens and to promote voter participation.
“The EIB Group’s new strategy, endorsed today by Members of Parliament and by EU finance ministers at last week´s informal Economic and Financial Affairs Council (Ecofin), will focus on climate, competitiveness and cohesion” said Calviño, “These are inseparable levers to make the green and digital transition a European success”, she added at the end of the debate in Strasbourg.
