President Calviño at the conference on the EU’s eastern regions bordering Russia, Belarus and Ukraine

Dear President von der Leyen, dear Executive Vice-President, dear Prime Ministers, Presidents, Commissioners, friends, I've just come down from a video conference with President Zelenskyy, with Minister Shmyhal, with other Ministers, other multilateral institutions to discuss how we can mobilise private investment in Ukraine, how we can support the country in these difficult times. I spoke about energy and I conveyed a very strong and clear message: We stand by Ukraine, whatever it takes, as long as it takes. And as I was speaking, I was feeling how proud we can be that we are contributing to a strong Europe that consolidates its role in the world as a beacon of hope, of prosperity, of freedom, of human rights. How good it is to be on the right side of history, how good it is to be on the right side of the barbed wire as you, Executive Vice-President, you said. And after so many inspiring and strong speeches, I just want to share with you three complementary thoughts, explaining also the role of the European Investment Bank in all of this.

First, why the European Investment Bank? Well, it is the financial arm of the European Union. We are pan-European by design, very strong balance sheet, very robust AAA rating, owned by the 27 Member States, neither more nor less, with projects and presence in each and every one of the regions of our union. So, it is clear that the European Investment Bank must play a key role as an engine for growth and prosperity.

Last year, the EIB financed €14.5 billion in public and private investment in the nine Member States along the eastern border, and that is 16% more than previously. Because when some see uncertainty, we see responsibility and a need to act, to be there where we are needed, to be there where we can make a difference. The investment supported by the EIB Group is actually making a difference. Just let me tell you, it represents 2.5% of the GDP of Poland, 2.9% in Latvia, 3.2% in Estonia. Large scale investments, but also financing that permeates the economic tissue.

The second point I wanted to share with you is about security and defence an issue that you have put on the table because 2025 was a turning point for the European Investment Bank in the area of security and defence. Not only did we enlarge the eligibility of our investments so that we could finance pure military projects, for example the military campus that has already been mentioned in Lithuania, for example, other projects that are going on in Latvia and other countries. And we multiplied times four, our financing in this area to reach already 5% of total finance inside the EU.

I take this opportunity, it's not often that I have the opportunity to have in front of me Prime Ministers of these countries, to invite you to come forward to the EIB with transnational projects, those projects that can really build European capacities because many of the projects we are financing are of a national dimension. But it is by being united that we can really be strong.

My third and final point is about the fact that investing in these regions is not only the right thing to do, but it is also the smart thing to do. Because first, supporting the energy transition of this region, for example, is essential for Europe's energy security and competitiveness. By investing in clean energy, we can reduce energy costs, we can reduce dependence. Last year, just to give you an example, we invested more than €2 billion in Poland's offshore wind sector, and that is enough, that will be enough, to power 1/3 of Polish households by 2030. We're also modernising Slovakia's streets, supporting renewables in Latvia, new solar parks in Romania, nuclear power in Finland.

The second reason why this is smart is because we're bringing opportunity where talent is. Talent is not higher in large member states than in small member states, in northern member states, southern, east, west, new member states, talent is equally distributed throughout our region. So, by bringing opportunity where talent is, we're actually fostering the prosperity and growth of the whole of Europe, and this is, I think, the DNA of the European Commission, it is the DNA of the European Investment Bank.

And thirdly, because investing in the resilience of this region is a strategic investment in Europe's future reconstruction of Ukraine. A number of you have mentioned it, just now with President Zelenskyy, I was talking about the interconnector with Romania. I was talking about how we need to build this resilience also in Ukraine. We have signed a €500 million loan, for example, to improve road links between Lublin and the Ukrainian border. And this will also support military mobility, not only civil mobility, obviously.

So, these are the three key points I wanted to bring to the table to complement previous speeches. And let me close thanking wholeheartedly the Executive Vice President for this initiative because I think that we're all really on the right track when we're joining forces under this EastInvest Facility. Pooling our efforts, we will be able to mobilise €28 billion in financing for '26 and '27, so that's for now. And that multiplies our impact on the region's resilience so that everybody has the right to stay, as you all said, and the right to live and prosper in each and every one of the corners of our European Union.

And these are values worth defending. This is at the end of the day, the fight that we're leading is a fight for Europe's future. It's, at its core, a fight for our values, for peace and security, for equal opportunities, for social and territorial cohesion, for vibrant cities, for thriving communities. European unity is our strength. You all highlighted it. It is our superpower, really, because when we row in the same direction, we are truly unstoppable. And the European Investment Bank is absolutely determined to play its role in building a safer and more resilient eastern border, powering Europe's future because this is the good fight. And from the European Investment Bank we're all in. Thank you very much.