President Calviño: Building connections and bridges

We've had a very intense day, but I want to be honest, this is the highlight of the day, dear Ingrid. I really appreciate the opportunity of sharing this moment with you to say goodbye, to say thank you and also to wish you all the best, because our interaction has been really excellent during these two years since I became president of the European Investment Bank. 

Looking at the crowd gathered here today, I think this is the most powerful message really of how you are appreciated and how you're going to leave an incredible legacy behind.

I don't understand Dutch, but I have a very good interpreter, Vice-President de Groot, sitting by my side. And I think the speech that we just heard is very much reflecting your main skills, which have to do with building bridges, building partnerships, bringing the business and society, business and politics, Dutch and European institutions together. So, it is only natural that a European institution, the European Investment Bank would participate in this very, very emotional moment. And these partnerships are more important than ever, as the reshaping of the global order is clearly entering a new phase.

A phase that seems to be marked by two words, conflict and uncertainty. A new phase that is really putting to the test the core elements that have underpinned the amazing success of the Netherlands and Europe for the past 80 years. They're being put to the test, they're even being attacked directly by some that used to be our partners. But my main message to you today, which I think is going to be shared by some of the speakers that are coming afterwards, is how there are very good reasons to be confident in ourselves.

Because in this troubling context, Europe is perceived increasingly as a beacon of hope and stability. Europe as a whole and its very dynamic economies and, of course, the Netherlands always stand out as one of the most dynamic economies. They are also emerging as sanctuaries for research, for talent, for reason, for mutual respect, for the rule of law.

It's very natural also that you're now going to the University of Delft where you will be having the opportunity to bring back some of the talent that had left Europe in the past. Because increasingly we see researchers coming back to our continent. And these are very powerful assets. They underpin our way of life. They also make Europe very attractive as a destination for capital, for investment, an anchor of certainty for businesses, global investors, governments around the world.

Seize the moment

And I'd like to share three key messages with you today on these issues. The first one is the importance that Europe sees as this window of opportunity to build on our strengths. Because Europe is a powerhouse. We are a €19 trillion economy. A global superpower in technology, trade, manufacturing, on an equal footing to the US and China in many instances. And going to the University of Delft we were just discussing that allows you to discover to what extent Europe is a powerhouse in so many areas.

This morning, I also had the chance to see the Port of Rotterdam, as was already mentioned, and to see, you know, one of the most amazing infrastructures that we have on our continent. And the Netherlands is at the heart of this European momentum. Last year we financed in this country a record €4.1 billion in projects, in areas that go from energy grids. And I know the head of Tenet is also represented here today, which will be, I don't need to explain it, of enormous importance going forward. But also financing projects in water, innovation, technology, through our Dutch bank partners, some of them are also here today.

We're supporting small and medium sized companies. And we're really proud at the European Investment Bank to support the Netherlands and to support Dutch innovators. Because we are setting the pace for the continent, really. We are financing companies like Lumicks. I had the chance to visit some months ago for cancer research. Xeltis, which is developing artificial blood vessels for heart bypass surgeries. So, these investments are not just numbers or abstract concepts. They're really making a difference on the ground. They are national successes, and they are European successes, too, that I think should give us confidence, self confidence in our ability to also find a prosperous way forward in the future.

Speed and scale

And then my second point, and that's one that comes to me all the time from investors, the business community, policymakers, in all my conversations outside. We need scale and speed to capitalise on these strengths. Because Europe has talent, we have capital, the priority is to put this capital to work, to create space for this talent to shine. And this is why, from the European Investment Bank Group, one of our top priorities last year was security and defence and building a capacity there. Now we are on track in that area. And in 2026, we really want to make a significant contribution to Europe's Savings and Investment Union. To have a bottom-up contribution together with legislative initiatives and other political initiatives so that we can create instruments that favour and mobilise crowding private investments.

Last year, we launched this initiative, we call TechEU, to try to foster and scale up our ability to invest in technological leaders so that ideas, technologies, companies that are born European can also grow and thrive here in Europe. And from here, the Netherlands, Europe, become global leaders. I don't need to explain it in this room and in a country that has so many good stories and examples in this regard.

ETCI, Defence Equity Facility expansion

Going forward, let me just leave you with the idea that we are working on a second generation of our European Tech Champions Initiative so that we can also mobilise and crowd in private institutional investors, giving them more flexible ways to support European innovators. That we are also scaling up the Defence Equity Facility so that we can nurture the ecosystem of mega investment funds in Europe and also the ecosystem emerging of defence specialised venture capital funds. Actually, the Netherlands is a very good example. We have so far invested in a number of funds, including Keen Ventures here in the Netherlands in the area of security and defence.

We also have managed to create in Europe 14 megafunds in just a couple of years, so €1 billion in capital, already nurturing 11 unicorns. A number of these examples are here in the Netherlands. Framer is one of those examples. But I am really happy that we have been able to build this ecosystem and find the synergies, not only with the Dutch government, the cooperation is excellent, but also with the business community over here. And now what we want is that other investors can also join this success story.

I mentioned in passing security and defence, but today with the developments around us, I would like to tell you how the 2025 was such a turning point. We reached 5% of our finance inside the EU devoted to security and defence. And we have a robust pipeline of projects in the areas of military mobility and critical infrastructures, in the areas of research and development, in the areas of industrial capability. For example, in drone manufacturing, in the area of financing small and medium sized companies in Europe. And I have to tell you, in the 10 minutes we were outside ... we already had a very good conversation so that we can also bring the Netherlands into this instrument to foster the ecosystem of small and medium sized companies. 

And finally, nurturing this venture capital specialised funds. And I want to say a word about Robert de Groot, because you are the vice-president of the European Investment Bank. He is very well known by all of you, and he is really making a difference. In our institution, precisely driving the security and defence work stream. And since we were so successful last year, I am quite also confident that we will be successful this year in scaling up our ability to finance and crowding private finance for innovative technologies, innovators, disruptive companies in Europe.

Unity is our strength

And that brings me to my third and final point. It is this very easy, very simple message – when Europeans we stick together, we are unstoppable.

I think this was the message also in the previous speech, when they were remembering how you behaved during the pandemic, then during the war, how you kept everybody together, how you joined forces, public and private sector, so that we could really overcome those challenges together.

Our unity is really our greatest strength, and that should be the right way forward, shouldn't it?

Last year, we managed to mobilise from the European Investment Bank €100 billion in finance. That is a record amount, and that includes financing for half of the energy grid projects in Europe, one out of five solar plants, one out of three onshore wind parks. Most of the offshore wind parks that are currently being built in Europe. Just this morning, actually, in Rotterdam, the deal we signed, since it was already mentioned, let me tell you what it was. It is an electrification of the system, so that the boats that go into the port, they can switch their engines off when they're docked, and they can connect to the electricity grid. Which brings down CO₂ emissions, of course, brings down costs, reduces our dependency on fossil fuels. So, it is really one of those projects that makes me proud, because it will really make a difference on the ground.

It is clear that we need to stay the course, and we need to join our forces, because then we will be able to integrate markets, simplify the rules, mobilise large-scale investment and build strong partnerships around the world.

Bridging business and society

And that's what we need, also, bridge builders. And Ingrid is the best example in this regard. Because you, from now on, are going to be putting innovators and researchers in the same room. You're now going to go into a different dynamic, a different scale, but exactly the same, building bridges: How do I close the gap between research and innovation? How do I make sure that the network of universities in the Netherlands, in Europe, are working together with a view to scaling up our ability? How do I bring finance from the EIB, from the National Promotional Bank, from the private sector, so that I can invest where it is needed?

I can only say, as my predecessor in the podium said,  It's a glove made for you. It's a perfect next step in your career.

You will be able to continue to build on Europe's strengths, be even closer to the reality on the ground. You will be fortunate to be very close to young people, and I think it's such an inspiring opportunity. I think we all envy that possibility to be with young people. They see the future differently, and they will build this better future. I am absolutely sure.

And as I have already mentioned, I think that this will only open another wonderful chapter in our partnership.

So, all the best, count on us and good luck. I'm really looking forward to hearing about your upcoming successes.

Thank you.