(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. The Boards of Directors of the European Investment Bank (EIB) and the European Investment Fund (EIF) have approved a €17.7 billion financing package aimed at driving the green transition, enhancing Europe's economic resilience, and expanding global partnerships, Trend reports via the EIB.

The investments will support innovation in EU semiconductor production, battery storage, and strategic infrastructure, while also addressing social priorities. Key initiatives include social housing projects in Belgium, climate adaptation measures in Italy and Germany, major railway upgrades in Spain and Hungary, renewable energy projects by French businesses, and energy network improvements in Greece, Slovakia, and Italy.

Of the total approvals at the November board meetings, €4.2 billion was allocated under TechEU, the European Union's largest financing programme for innovation, designed to help EU-based ideas, companies, and technologies grow and thrive within Europe.

The EIF approved multiple transactions across Central, Eastern, and South-Eastern Europe to strengthen the European investment ecosystem and foster social and economic cohesion. These include support for a social impact fund, a growth fund, a securitisation deal in the Baltics, and a private credit fund focused on Central and Eastern Europe.

Beyond Europe, the EIB Group also endorsed clean-energy projects in Egypt and Tunisia, the construction of new schools in Benin, and railway infrastructure upgrades in Montenegro.

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