President Calviño welcomes support for EIB activities and shares strategic priorities for EIB Group with European Parliament in Strasbourg

• Members of Parliament vote on resolution on financial activities of the EIB and express strong support.
• Engagement to continue, based on shared objective to maximise impact of EIB’s resources and potential.
• EIB and EP Presidents sign Memorandum of Understanding ahead of the European elections in June. 

President Nadia Calviño shared the European Investment Bank (EIB) Group’s ambitious new strategy with EU lawmakers in Strasbourg today, laying out eight strategic priorities for financing and support. During their plenary session, Members of Parliament voted on a resolution on the financial activities of the EIB, in which the Parliament expressed its strong support for the EIB Group’s role as a key instrument for advancing EU policy objectives.

“I welcome the support of the European Parliament for the EIB Group as the financial arm of the EU. Our partnership with the Parliament as the Union’s directly elected democratic body is invaluable. The EIB Group’s new strategy, endorsed today by Members of Parliament and by EU finance ministers at last week´s informal Economic and Financial Affairs Council (Ecofin), will focus on climate, competitiveness and cohesion, inseparable levers to make the green and digital transition a European success.”

The debate has followed intensive and ongoing engagement between the new president of the EIB Group and the Bank’s shareholders, during which Calviño visited several EU capitals and met with ministers and heads of government. Last week, EU finance ministers endorsed the  strategy and eight core priorities outlined  by President Calviño at an Ecofin meeting in Ghent, setting the framework for future initiatives.  

The strategy aims to build on the strengths of the EIB Group and to deploy the institution’s full potential. In her remarks to EU lawmakers today, President Calviño reiterated that the core of the EIB Group’s activity should focus on the following areas:

• Consolidating the EIB’s position as the Climate Bank, by meeting the objective of supporting €1 trillion in green investment in the critical decade to 2030 and committing at least half of annual financing to climate action and sustainability.
• Accelerating digitalisation and technological innovation. This includes the launch of a new Fund for the Acceleration of Strategic Technologies and Economic Resilience (FASTER), to support investment in chips, AI, life sciences, and advanced materials.
• Strengthening the role of the EIB Group in the areas of defence and security, with the EIB ready to do more to contribute to European security, protection and deterrence.
• Continuing the strong support for investment in cohesion regions, where almost half of the EIB’s lending inside the European Union is already being committed, including for just transition projects.
• Developing innovative financing for agriculture and the bioeconomy, to maximise the impact of existing instruments and to develop new flagship products such as insurance or de-risking schemes for European farmers.
• Strengthen support for social infrastructure, including healthcare, education and affordable housing.
• Using the EIB’s resources, expertise, and capital markets status in support of deepening the capital markets union.
• Focusing the EIB’s activities outside the EU on Ukraine, the enlargement process and neighbourhood countries, as well on Global Gateway projects.

Ahead of the debate, President Calviño also signed a Memorandum of Understanding with European Parliament President Roberta Metsola to strengthen and intensify collaboration ahead of the upcoming European elections in June. The collaboration focuses on communication and outreach activities to foster a deeper understanding of the value added of the European Union for its citizens and to encourage citizens to use their vote.

Find President Calviño’s opening remarks here.

Extracts from the debate, the vote and statement by President Calviño here

Background information

The European Investment Bank (ElB) finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support  €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank's commitment to fostering inclusive growth and the convergence of living standards.