EIB Group Advances Clean Energy With $11.7 Billion Financing Package

-- The European Investment Bank Group approved 10 billion euros ($11.71 billion) in financing, including nearly 2 billion euros for clean energy projects, EIB said Thursday.

The funding will expand clean energy investments, improve affordability and strengthen competitiveness across Europe as the region accelerates its transition away from fossil fuels, EIB said.

The bank approved loans to support offshore wind production in Germany, solar energy projects in Italy and renewable adoption by businesses in Austria, it said.

The package also supports energy efficiency upgrades in heating systems in Latvia and grid expansion in the Netherlands to increase renewable capacity and electric vehicle charging infrastructure, EIB added.

Europe is pushing to increase clean power and efficiency amid supply pressures linked to Russia's war in Ukraine and ongoing tensions in the Middle East, it said.

EIB Group President Nadia Calvino said, "There is one clear lesson from Russia's invasion of Ukraine and the conflict in the Middle East: Europe needs to break free from its fossil fuel dependence."

The financing aligns with European Union policy goals and supports the European Commission's Clean Energy Investment Strategy from March 2026 and the AccelerateEU plan released this week, it said.

The EIB also approved 8 billion euro in funding for urban development, transport infrastructure and business investments, including projects in Belgium, Romania, Bulgaria, Italy and Spain, it said.

The European Investment Fund approved new guarantee and securitization agreements to expand financing access for European businesses and support competitiveness and digitalization.

The fund also backed equity investments in security and defense, energy and gender-focused funds and endorsed eight TechEU operations to widen funding for European innovators, EIB added.

The group also approved financing for agricultural businesses in Benin and broadband expansion in Sub-Saharan Africa, supporting the EU's Global Gateway strategy and international partnerships, EIB said.