The European Investment Bank (EIB) announced on Thursday that it has doubled its investments in security and housing during its Forum titled “Investing in a More Sustainable and Secure Europe,” held in Luxembourg from March 5 to 7.
As part of the forum, the Bank signed a €2 billion guarantee agreement to establish a new Ukraine facility, along with a €10 million grant aimed at bolstering Lebanon’s healthcare system.
Nadia Calviño, President of the European Investment Bank Group, inaugurated the event on Wednesday, underscoring the crucial role of investment in shaping Europe’s economic future and highlighting the EIB’s focus on security across all its initiatives.
In her speech, President Calviño announced that the EIB would propose to its Board of Directors later this month to expand the financing eligibility for security and defence.
This adjustment aims to clarify and limit the scope of excluded activities, enabling the EIB Group to respond to financing needs while maintaining its operational integrity.
She confirmed that the Group doubled its financing for European security and defence in 2024 and plans to at least double it again this year to an unprecedented level. Moreover, she expressed the Group’s intention to integrate the existing €8 billion defence investment programme into a new, permanent public policy objective.
“Every euro invested by the EIB contributes to Europe’s security. Through financing for large-scale projects in energy, the green transition, transport, research, social infrastructure, security and defence, new technologies, and robust international partnerships, we are contributing to a strong and stable, prosperous, and peaceful Europe,” she noted.
On Wednesday afternoon, Debora Revoltella, Chief Economist at the EIB, introduced the latest edition of the EIB Group’s annual Investment Report, which is based on a survey of 13,000 companies.
The report identifies three primary strategies to enhance Europe’s competitiveness and security: further market integration, process simplification to reduce bureaucracy, and large-scale investments in innovation.
On Thursday, President Calviño and Commissioner for Energy and Housing Dan Jørgensen unveiled a new pan-European housing initiative aimed at financing innovations, renovations, and affordable housing throughout the Union. This initiative emphasises the importance of ensuring that housing is both affordable and sustainable within a productive economy.
During the presentation, EIB Vice President Ioannis Tsakiris announced the upcoming launch of the EIB Action Plan, which will include a new housing one-stop-shop portal designed to provide advisory services and financing for innovation in the construction sector, the construction of affordable homes, and investments in energy efficiency and housing stock renovation across Europe. The EIB plans to invest approximately €10 billion in affordable housing over the next two years.
*EIB Supports Ukraine’s Reconstruction*
During the forum, the EIB signed a €2 billion guarantee agreement with the European Commission to establish the new Ukraine facility, aimed at providing financial assistance for the restoration of critical infrastructure and essential services in Ukraine.
This agreement will further support urgent recovery and reconstruction projects in the country. Additionally, an agreement was signed between the EIB and the Government of Ukraine to deploy experts under the EIB’s JASPERS advisory programme to accelerate on-ground projects. “Because Ukraine’s security is Europe’s security,” stated President Calviño.
*EIB-WHO Agreement for €10 Million Grant Supporting Lebanon’s Healthcare*
Furthermore, on the sidelines of the forum, the EIB and the World Health Organization (WHO) announced a €10 million grant aimed at enhancing health resilience in Lebanon, particularly in combating medicine shortages and fragmented laboratory services.
This initiative aims to re-establish the Central Public Health Laboratory in Lebanon, which is vital for improving the detection of emerging infectious diseases. It will facilitate testing for emergency infectious diseases, allowing for the prompt confirmation of potential pathogens to prevent outbreaks, especially among vulnerable displaced populations and refugees. The CPHL will also ensure the safety of blood donations through thorough testing.
The agreement will also unlock provisions for essential medicines and expert support to primary healthcare centres across Lebanon, enabling them to restore vital services, including reproductive health and the prevention of gender-based violence, thereby addressing specific gaps in service provision.
( Source : CNA )
