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  • The EIB and the European Investment Fund (EIF) presented their results for 2021 at the EIB Group’s annual press conference in Brussels today, with the EIB Group lending EUR 95 billion worldwide.
  • In Sweden alone in 2021, they leveraged EUR 2.47 billion in Swedish investments for climate improvements, combatting the pandemic and public transport.
  • The EIF has tripled its lending across Europe to EUR 30.5 billion, assisting SMEs in overcoming the COVID crisis.

Despite the effects of the COVID crisis, 2021 was a very positive year for the EIB Group’s (European Investment Bank and European Investment Fund) loan project financing in Sweden. In total, during 2021, the EIB Group granted financing worth EUR 2.47 billion (almost SEK 26 billion, 0.47% of GNP) in Sweden, of which a little more than EUR 1 billion via the EIF (equivalent to approximately SEK 10.4 billion), for everything from climate-friendly transport and clean energy to combatting the pandemic and special support for SMEs.

Profit for the year for the EIB Group reflects how we have supported companies during the pandemic. At the same time, we are supporting the transition to an even greener, climate-friendly Sweden. Our lending and guarantee activities contribute to strengthening both the Swedish and European economies by investing in vital infrastructure, SMEs and green projects. We will continue to increase the financing opportunities for companies and the public sector, and the door to our Stockholm office is open,” said the EIB’s Vice President Thomas Östros.

Regional rail services. Highlights this year include support to the public sector for new, environmentally friendly rail services from regional transport authority Mälardalstrafiken, which took out a loan of SEK 480 million. This loan finances 12 new double-decker trains with greater capacity for regional transport in the Mälar Region. The loan for climate-friendly rail transport is consistent with the EIB’s new objective, which is that as the EU climate bank, 50% of loans will be climate-related by 2025.

Climate. The EIB also financed innovative clothing recycling with a focus on a circular economy. The loan agreement of SEK 311 million for textile innovator Renewcell’s first commercial factory in Sundsvall. Renewcell has developed a way to turn discarded, recycled clothing into Circulose®, a mass, of which new fabric can be made. The loan enables the construction of a textile recycling facility with a production capacity of 60,000 tonnes per year, which contributes to a circular economy within the fashion industry.

Pandemic support for Swedish mid-sized and large companies played an important role in the financing of the EIB Group in 2021. Through support from 22 EU member states, the EIB Group built up the European Guarantee Fund to guarantee access to financing to support companies affected by the pandemic. Among the commitments in Sweden through EGF was a major guarantee initiative with the Swedish Export Credit Corporation (SEK) of SEK 8.3 billion, which means that they can support hundreds of Swedish companies with new, advantageous financing so that they can recover from the COVID-19 pandemic.

Other major loans include SCA for renewable packaging, support for Northvolt to support their battery factory, financing for European Spallation Source (ESS), Electrolux, ESSITY, etc.

Triple lending for the EIF. The European Investment Fund (EIF), which focuses on SMEs, has had a particularly successful year, with the number of investments doubling in Sweden through the EGF COVID pandemic investment guarantee. These guarantees were used to benefit financial intermediaries and investment funds such as Almi, Norrlandsfonden and Ark Kapital, among others. The total EIF investments in Sweden increased by 290%, from EUR 270.6 billion to EUR 1,010.6 billion in 2021. As a result, Sweden rose from sixteenth place in 2020 to seventh place in 2021 in terms of loan financing from the EIF. 

As the EU climate bank, the EIB helping to achieve the goals of the Paris Agreement. In recent years, the European Investment Bank (EIB) has contributed to everything from Northvolt’s battery factory in Sweden, climate action, public transport, electricity grids and other areas, through favourable loans and green bonds, to investments in both the private and public sectors, in services, innovative industry and SMEs, all with the goal of building up Sweden and Europe and strengthening our competitiveness. We make a difference in the lives of millions of people, promote equality and job creation, and encourage innovation and growth.