BRUSSELS, 21st June, 2024 (WAM) -- Ministers of the European Union (EU), meeting as the European Investment Bank (EIB) Board of Governors, formally endorsed the EIB Group Strategic Roadmap laying out eight key priorities for the EU financing arm.
The eight priorities include climate action, digitalisation and innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, impact investments outside the EU and contributing to reinforce Europe's capital markets.
Governors also initiated the process to change the EIB statute to enable the EIB Group to use its full potential to support the European economy, while preserving the Bank’s stellar credit rating, leverage and capital position.
The adoption of the Strategic Roadmap follows several months of intensive engagement between President Nadia Calviño and EU governments, key partners and stakeholders, including dedicated discussions during the ECOFIN meetings in February and April.
The endorsed Roadmap includes the following main elements:
Launch of a targeted “Strategic Tech-EU” investment programme to accelerate digitalisation and innovation in strategic technologies, such as artificial intelligence, microchips, life sciences and quantum computing. This initiative will cover the entire value chain, including critical raw materials, thus reinforcing Europe’s strategic autonomy and fostering home-grown innovation.
Following the mandate of the Eurogroup, the EIB will expand the successful European Tech Champions Initiative to attract private capital to finance the scaling up of innovative start-ups.
It will also replicate the model of standardised financial instruments in other areas to crowd in private investment in sectors like energy efficiency for small- and medium-sized enterprises and building retrofitting. These initiatives will contribute to advance the EU’s capital markets union.
The EIB will reinforce its investments and develop new financial instruments to boost European resilience in water management and support agriculture, bioeconomy, and food security. These programmes will provide liquidity, pool resources and de-risk investments.