This week, the Boards of the European Investment Bank and the Fund endorsed an ambitious target of 100 billion euros in financing for next year, matching this year’s record level. Our risk capital arm, the EIF, will keep a very ambitious target of 15.3 billion euros in capital and guarantees. And total investment in the area of security and defence will pursue the upward trend to reach at least 4.5 billion euros, that is 5% of total financing within the EU.
Our shareholders also decided to launch the second phase of our flagship European Tech Champions Initiative, a fund of funds nurturing the European ecosystem of private investors supporting successful scale-ups.
We also approved over 7 billion euros in new financing to boost hospitals, schools, digital infrastructure and water projects across Europe, and support vaccine production in Latin America and Africa, and climate adaptation in Asia.
We updated EU finance ministers at the ECOFIN Council on our contribution to the Savings and Investment Union, our continuous support for Ukraine and good progress in Europe’s security and defence capabilities.
We also announced new financing for critical infrastructures and research in security and defence in Sweden and Spain, digital payments in Italy and cutting-edge semiconductors across Europe. Finally, Caroline Mohr, former professional golfer, shared with our teams her inspiring story, an example of the power of will and self-confidence.
Watch President Calviño's previous One week, one minute recaps.
