President Calviño opens the EIB Group Forum: This Is Europe

Ladies and gentlemen, dear friends.

A warm welcome to the EIB Group Forum!

This is the third edition of our annual gathering to discuss relevant issues to shape European policies and investments.

And this year, our exchanges will be particularly valuable at this turning point for the global geopolitical order.

We are certainly living a seismic shift,  with deep changes underway - in the way our economies work as technology revolutions unfold, and in our international alliances.

I am not sure whether it’s Brave or not, but this is definitely a New World.

Our future – and Europe’s role in the new chess board - will depend on the decisions we make today. And every decision counts.

In such turbulent times, it’s back to basics: we must safeguard our “Security”.

This is a big word, with many facets: 

-         Security means, first and foremost, an environment of freedom and peace for our countries.

-         It also means stability, certainty and opportunities to grow for our businesses.

-         It means an inclusive society, where people are confident about a better future for themselves and their children across the whole EU.

-         Security can only be forged with strong international partnerships; by reassuring our allies that Europe will stay true to its core values and a rules-based international order.

-         And, of course, all of this in a liveable world. Where we ensure that future generations can continue to thrive, safeguarding food supply, public health, and good infrastructures.

In other words, security and shared economic prosperity are mutually reinforcing.  They work in tandem. One is a condition for the other, and vice versa.

EIB Group’s Records

In this sense, every euro invested by the EIB Group is an investment into our collective security.

Last year, we provided 89 billion euros in financing, 90% of it inside the European Union, around 10% outside the EU, and with more than 14 billion euros invested through the European Investment Fund, which as you know is our subsidiary specialising in support to SMEs and startups through equity and guarantees.

We have excellent results showing:

- Record financing for Europe’s energy security, including doubling of our financing for grids and interconnectors.

- Record higher-risk investment in Europe’s innovators and tech pioneers. The equity and quasi equity agreements we signed in 2024 alone are expected to mobilise €110 billion in growth capital for startups, scale-ups and European champions in breakthrough technologies.

- We also signed record investment for projects in cohesion and transition regions, which will bring opportunities where talent is, in every corner of our union.

Security and Defence Financing

Moreover, the EIB Group doubled its financing in support of European security and defence in 2024, and we plan to at least double it again this year to a record high.

We extended our eligibilities, created a dedicated one-stop-shop for projects in this area. We carried out extensive market testing to identify financing gaps in the value chain of Europe’s defence contractors and conducted a roadshow across EU member states to engage with ministries and industry and help identify ambitious projects for financing. 

I can tell you today that we are ready to do even more.

As I have already informed EU leaders, we will propose to the upcoming Board of Directors meeting on March 21 that the EIB Group further expands its eligibilities, to ensure that excluded activities are more precisely defined and as limited as possible in scope.

We also intend to embed the existing 8 billion euros programme into a new cross-cutting and permanent public policy goal.

This will enable the EIB  Group to respond to financing needs in a manner which safeguards the EIB’s operations and strong financial position for projects and investments dedicated to military uses, such as barracks and storage facilities, land and aerial vehicles, drones and helicopters, radars and satellites, advanced avionics, propulsion and optics, land border protection, military mobility, critical infrastructures, de-mining and de-contamination, space, cybersecurity, anti-jamming technologies, military equipment, seabed infrastructure protection and research.

We are currently assessing a solid pipeline of 14 projects expected for approval in the coming months in these areas.

Just to mention one example: we are assessing a military camp in Lithuania which is intended to host a German armed forces brigade.

For us, that is the key priority going forward: identifying ambitious projects where the EIB Group can really make a difference.

That’s why we are working closely with all stakeholders, including EU governments, the European Defence Agency, and NATO Innovation Fund – to pool resources, and maximize impact and complementarity.

We will shortly convene a meeting with national promotional banks to reinforce our cooperation in mobilizing public and private investment in this area.

More than ever, there is a need to join forces, and have a coordinated approach, where each institution focuses where it can provide more value.

These changes reflect the EIB Group’s readiness to remain responsive and relevant in a shifting global landscape.

Europe’s security hinges upon adapting to this new environment, to make sure that it retains its strategic autonomy and leadership. That we master our own future.

As I indicated before, every euro invested by the EIB contributes to Europe’s security. Through financing for large-scale investments in energy, the green transition, transport, research, social infrastructures, security and defence, new technologies and strong international partnerships, we are contributing to a strong Europe in a more stable, prosperous and peaceful world.

Let me now briefly run you through the highlights of the Forum.

Investment Report

To help frame the different panels, we will present later today the new edition of the EIB Group’s annual Investment Report - our flagship annual overview of the outlook for investment, based on input from a survey of about 13,000 companies and the constant engagement with our clients: the businesses and innovators in every region and every corner of the EU, some of whom are here in Luxembourg for the Forum this week.

In a nutshell, the Report confirms that there the three main levers to boost Europe’s competitiveness and security:

(i)               Market integration,

(ii)            Simplification

(iii)         and large-scale investment in innovation.

Together with Commissioner Dan Jørgensen, we will lay the foundations for a new pan-European housing initiative to provide financing in three areas: innovation – new materials and building techniques – renovation, and affordable housing in every corner of our Union.

And we will be signing agreements:

-         To launch innovative financing instruments for women entrepreneurs in Spain through the CBNK Bank.

-         To help the German innovator Ineratec develop new fuels that will slash emissions from air travel.

 

-         And to boost Lebanon's epidemic preparedness and improve access to essential pharmaceuticals for vulnerable populations.

I am really happy to join Dr. Tedros in this initiative, that highlights both the unwavering support of the EIB Group to multilateral institutions like the WHO, and our commitment to support the well-being of our partners beyond our shores.

The first ever EIB Global days will show that Europe can step up, expand its footprint and continue to contribute to strong partnerships around the world which lead to win win outcomes.

Let me close with Ukraine.

Also at the Forum, together with commissioners Kos and Dombrovskis, we will be signing the €2 billion guarantee agreement to launch the new Ukraine facility, providing financial support for restoration of critical infrastructure and essential services.

Ukraine’s security is Europe’s security. And we will support the country on the way to its reconstruction and the path to EU membership.

Over the next few days, we will be discussing in this Forum more proposals that will turn challenges into opportunities, for Europe and our partners across the globe.

This is not just about numbers.

Our work brings affordable housing for students in Cyprus, and easier access to financing for farmers in Romania.

It helps researchers in the Netherlands and Spain develop new innovative treatments against cancer, saving lives

It brings clean, affordable energy to households and businesses in Belgium and Germany, and faster rail connections in Czechia.

They mean shelters for schools and hospitals in Ukraine, protecting innocent people from Russian bombings.

In a world in which “everything, everywhere, all at once” is changing, we must move fast and with determination.

Now is the time to act, in a spirit of Unity, Partnerships and Solidarity.

There is no time to lose and at the European Investment Bank, we have no hesitation.

These are our European values.

And UNITY is our strength.

So we will play our role, as financing arm of the EU, to contribute to our shared goals.

You can all count on the EIB Group, which is a true success story of European unity, to finance projects that make a difference on the ground – for our citizens, our businesses;

More than ever, we are proud to be European.

Thank you and looking forward to our discussions