The EIB and Indra negotiate a financing agreement for defense projects
The European bank increases its financing to €100 billion to boost the sector
BarcelonaThe European Investment Bank (EIB) and Indra are working "closely" to soon announce a "significant" financing agreement for defense and security projects. This was announced by its president, Nadia Calviño, this Friday from Luxembourg, within the framework of the meeting of EU Economy and Finance Ministers.
"We have a very solid portfolio of around 80 projects that are contributing to this objective, of which 32 are emblematic," explained Calviño in a press conference.
In this regard, the EIB approved this Friday an increase in its spending ceiling for 2025 to a record figure of 100 billion euros, with the aim of intensifying investments in security and defense, the electricity grid, and technological leadership. The decision includes an increase in investment for security and defense, up to 3.5% of total financing, as well as €11 billion for grids and energy storage.
"Our goal for 2025 is to secure 3.5% of total financing, around €3.5 billion, to strengthen European capacity in security and defense," said the former Spanish minister, who noted that this represents a "tripling" of EIB financing in this area compared to last year.
€70 billion for innovation
In addition, the EIB has launched a €70 billion program for investment in innovation and technological leadership, "the largest so far" in the EU, according to the institution. These funds will be channeled through loans, guarantees, and capital instruments between 2025 and 2027. The institution estimates that the initiative, dubbed TechEU, will generate at least €250 billion in investments.
The program will support "high-risk" projects and innovative companies in areas such as supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries, healthcare, security and defense technology, robotics, and advanced materials. It will focus on companies at any stage of their growth, from early stages to those that have already gone public.
"Since I became President of the EIB, we have taken several steps to strengthen the financing capacity of the European security and defense sector: we expanded the scope of investments already in 2024 for the first time, and again this year to finance projects in the military sector," said the EIB President.
Ahead of Friday's meeting, the EIB Board of Directors approved new operations totaling €12.8 billion to strengthen defense capabilities, competitiveness, energy security, and European partnerships worldwide. This includes the development of a German military base in Lithuania, a NATO project, among others.