Tuesday, 02 January 2024 12:17 GMT

EIB Group Plans €10B Annual Financing To Fast-Track Global Dev't Projects


(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 16. The European Investment Bank (EIB) Group has approved new strategic orientations for EIB Global, its international development arm, outlining a roadmap to address global challenges while reinforcing Europe's influence in a shifting geopolitical landscape, Trend reports.

The updated strategy focuses on high-impact investments in over 130 countries, aligned with both EU priorities and local development needs. Key areas include clean energy and sustainable transport, global health, education, women's empowerment, and infrastructure that supports resilient supply chains.

A significant share of financing will be directed toward strategic infrastructure and private sector development in Ukraine, EU enlargement countries, and neighbouring regions. The orientations reaffirm EIB Global's commitment to implementing the EU's Global Gateway strategy and advancing climate action goals under the second phase of the Climate Bank Roadmap.

“In a world of walls, we build new bridges,” said EIB Group President Nadia Calviño.“As a strong and reliable partner, we remain committed to cooperation and delivering win-win solutions.”

Between 2025 and 2027, the EIB Group plans to provide up to 10 billion euros annually, with expanded technical assistance to enhance local ownership and speed up project implementation. Financing procedures will be streamlined through closer cooperation with development banks and EU partners, aiming to accelerate investment in flagship global projects.

The new framework also foresees enhanced engagement with the European Commission and other EU stakeholders to simplify mandates and optimise the use of EU budget resources.

To strengthen Europe's economic resilience, the EIB Group will roll out instruments to support exporters and diversify supply chains. A new pan-European Trade and Investment Initiative is being developed to mobilise EU guarantees and funding for European companies competing internationally.

EIB Global will also expand activities in critical raw materials, promoting sustainable partnerships with countries that can help secure the resources vital for Europe's green and digital transitions.

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