EIB Launches First Dedicated Financing Program For Europe's Space Sector

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 27. The European Investment Bank (EIB) has launched Space TechEU, its first dedicated financing program for the European space industry under the broader TechEU initiative, Trend reports via the Bank.

The announcement was made at the European Space Agency's (ESA) triannual Council of Ministers meeting in Bremen.

The program will include €500 million in EIB financing to support companies across the entire space value chain - from upstream to downstream - with the goal of mobilizing around €1.4 billion in new investment in cooperation with commercial banks. A key focus will be on providing financing to SMEs and mid-cap firms, which often face the greatest challenges in securing bank loans.

Under Space TechEU, the EIB will offer both credit lines and guarantees to EU banking partners. As part of a strategic partnership, ESA will contribute sector expertise and technical guidance to commercial banks participating in the program.

The new initiative stems from the tripartite collaboration established last year between the EIB Group, ESA and the European Commission, aimed at improving access to finance, promoting innovation, enhancing knowledge-sharing, and accelerating the development of advanced space technologies across Europe.

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