Brussels – From a climate bank to a defense bank. The EIB tries not to betray ambitions and goals, but the policy shift of its shareholders – the governments – inevitably leads to a change in identity. Security and defense funding by the European Investment Bank “in 2024 doubled to €1 billion, with a further doubling planned for 2025,” bringing the contribution for the sector to two billion. The group’s activity report certifies a change of pace.
“The EIB Group has significantly expanded its eligible investments in dual-use projects,” which now include border protection, military mobility, de-mining and de-contamination, space, cybersecurity, anti-jamming equipment (radio communication disturbing activity), seabed and critical infrastructure protection, research and development, and drones, the lending institution said in its annual activity report.
The EIB cites concrete examples, including financing dual-use satellites in Poland, port upgrades to meet the needs of NATO ships in Denmark, and investments by the European Investment Fund (EIF) in dedicated private investment funds.
“We have made ourselves ready to support EU priorities in this new political mandate,” said EIB president Nadia Calviño, presenting the annual results. How the European Investment Bank is working, therefore, is not surprising: it is following up on the political mandate that includes a renewed and increased focus on defense in its agenda.
Sustainability, of course, is still present. In the European legislature that just started, there is still space for the Green Deal as in the one that ended last May. “Nearly 60% of the total financing supported the green transition, climate action, and environmental sustainability,” according to the report, which means to reassure about intentions to “maintain a 60% green finance target” also in 2025, a year in which European security and defense industry remains a priority for the Bank.
English version by the Translation Service of Withub
