Belgium: EIB Group boosts green finance with nearly 80% of investments for climate projects in 2023

The EIB Group signed nearly €2.4 billion in financing for 26 projects in Belgium in 2023, as part of global funding totalling €88 billion for over 900 high-impact projects.
A record €49 billion (55.8%) of the Group’s investments in 2023 were green; in Belgium financing for climate action and environmental sustainability even hit 79%.
Major support for the Belgian water and energy sectors in the three regions, Belgian SMEs as well as for the construction of Brussels’ north-south metro connection.

In 2023, the European Investment Bank Group signed close to €2.4 billion worth of new financing contracts for projects in Belgium. The EIB Group funded some 26 different projects last year, a big increase from 2022, highlighting the importance of tailored financing to support high-impact projects.

Across all three Belgian regions, the EIB Group continued its financing for projects that contribute to improving people’s lives. From ensuring clean drinking water and efficient treatment of wastewater, to supporting sustainable mobility with the Brussels new North-South metro line, as well as sustaining SMEs, the EIB Group fulfilled its mission to support innovation, economic resilience, and a swift transition to a net zero economy. In total, EIB Group financing in the country amounted to some €2.375 billion, of which €230.5 million through the European Investment Fund (EIF).

“In recent years, the EIB Group’s importance has grown significantly. Not only in terms of financing volume, but also in the leading role it plays in many sectors, above all when it comes to climate action. In 2023 nearly 80% of all the EIB’s investments in Belgium were climate-relevant, an absolute record. This shows that green is the way to go, not only because we need to limit the effects of climate change, but also because this type of investment now makes economic sense.” said outgoing Belgian EIB Vice-President Kris Peeters before handing over to his successor Robert de Groot.

The fact that Belgian firms perceive climate as important was highlighted also by the results of the EIB Investment Survey which is published today. The survey showed that 64% of Belgian firms said weather events had impacted their business (in line with the EU average, 64%). A majority (54%) of Belgian companies have taken measures to build resilience against such risks, the highest share observed among all EU Member States.

Water projects received nearly a third of this year’s EIB Group financing, with a further 24% going to transportation projects, notably the €475 million loan to the Brussels Capital Region to build part of Brussels’ new M3 metro line. Apart from financing small businesses like in previous years, financing for innovative Belgian life science companies also continued, namely through venture debt operations with Novadip and The Akkermansia Company. Furthermore, the country’s energy network operators got a financial boost through a €190 million loan to RESA and a further €150 million to Fluvius, for their projects supporting the energy transition.

The EIF, with its mission to facilitate access to finance for SMEs, proved instrumental in making available €608.5 million of new lending for small and medium-sized businesses through Belgium’s three regional promotional institutions with backing from InvestEU. The Fund also gave a financial push to CD 3 Fund IV, a technology transfer platform in partnership with the University of Leuven, focusing on drug discovery and developing projects. In August 2023, the EIF supported Fin’Common, a small female-led Belgian cooperative active in the field of social enterprise finance.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It 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 within and outside the European Union in 2023. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs. See our website for supporting documents and data.

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

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

Contact

Sabine Parisse

s.parisse@eib.org
+352 4379 - 83340

Tim Smit

t.smit@eib.org
+352 4379 - 89076

Press Office

press@eib.org
+352 43791

Reference

2024-032-EN

2 February 2023

EIB Group financing in Belgium totals €2.658 billion in 2022

In 2022, the EIB and the EIF, which together make up the EIB Group, made almost €2.7 billion in financing available to Belgian projects. Just over €2.3 billion came from the EIB and almost €335 million from the EIF, the group subsidiary devoted exclusively to SME financing. Supporting such businesses still grappling with the consequences of the health crisis was one of the top priorities, as was backing climate action projects. For example, the EIB signed a new tranche of financing with Fluvius for infrastructure investments, which include adapting distribution networks for the electrification of public buses.

27 January 2022

EIB Group signed a record €3.42 billion in financing in Belgium in 2021

The European Investment Bank (EIB) and European Investment Fund (EIF), which together form the EIB Group, provided a record amount of nearly €95 billion in financing in 2021, a great deal of which — some €45 billion — went towards supporting Europe’s small and medium-sized enterprises (SMEs) during the crisis period. It was also a record year in Belgium itself, with over €3.42 billion in finance for Belgian projects. This included nearly €2.7 billion in financing from the EIB, and a further €718.5 million via the European Investment Fund, the EIB subsidiary that focuses exclusively on finance for SMEs.

1 February 2024

Austria: EIB-Group provides financial support for green and social projects

In 2023, the European Investment Bank (EIB) Group in Austria has focused its financing on projects that support renewable energies, water-supply and social housing. With the release of its annual results, the EU-Bank announces today that it committed €1.26 billion in new financing in Austria. In the current economic environment, with higher interest rates, companies both private and public turned to the EIB for supporting long term investments, especially toward the end of 2023.