EIB Group approves €9.2 billion in new financing for housing innovation, energy security and child healthcare

The European Investment Bank (EIB), known as the EU's long-term lending institution, has recently announced significant financial backing aimed at promoting sustainable housing and innovation in Europe. This announcement comes from the EIB, which is owned by its Member States and is pivotal in financing projects that align with EU policy objectives. The publisher of this information is the EIB, with the report authored by its internal team.

In a groundbreaking move, the EIB and the European Investment Fund (EIF) have approved a total of €9.2 billion in new financing. This funding is earmarked for expanding innovation in the housing sector, enhancing energy security, and supporting healthcare and water systems across Europe. Among the highlights is the initiation of the €400 million HousingTechEU initiative, aimed at fostering innovation in housing and supporting mid-cap and large companies in the EU housing market.

The HousingTechEU initiative is a first-of-its-kind effort designed to stimulate advancements in the construction sector. By supporting the development of new construction materials and machinery, this initiative seeks to improve housing quality and reduce costs. It aligns with the EIB Group’s Action Plan for Affordable and Sustainable Housing, which aims to increase financing for affordable housing across Europe to over €4 billion by 2025.

In addition to housing, the EIF has endorsed an investment in Europe’s first venture capital fund focused on pediatrics. This initiative aims to transform research from children's hospitals into breakthrough therapies, addressing critical needs in child healthcare. The EIB's commitment extends to various projects, including affordable housing in Germany, a new hospital in the Netherlands, and water infrastructure improvements in Italy and Lithuania.

The EIB also highlighted its ongoing commitment to sustainability through financing for renewable energy projects in Germany and Portugal, alongside initiatives to support sustainable transport in Poland. These projects are part of a larger TechEU program, the EU's most extensive financing program to date for innovation and technology leadership, which includes a focus on green and digital domains.

Beyond the EU, the EIF Board has approved a transaction aimed at unlocking over €200 million in financing for small and medium-sized enterprises (SMEs) in Ukraine, showcasing the EIB's role in supporting economic resilience in the region. Moreover, the EIB is also backing private sector development in Africa and various infrastructure projects in Brazil, Serbia, and Iceland.

Earlier this week, the EIB Board held its annual seminar with nearly 100 participants from civil society organizations to discuss its lending activities in Ukraine and collaboration with other multilateral development banks. This engagement is crucial for fostering partnerships and ensuring that the EIB's initiatives align with societal needs.

The EIB Group signed nearly €89 billion in new financing for over 900 high-impact projects in the previous year, significantly boosting Europe's competitiveness and security. Approximately half of the EIB's financing within the EU targets cohesion regions, emphasizing its commitment to supporting areas with lower per-capita incomes. The EIB aims for almost 60% of its annual investments to support climate action and environmental sustainability.