I EU governments they agreed to increase spending annual of the European Investment Bank (EIB) to 100 billion euros this year and to triple the funding for the'defense industry of the block. They told it to Reuters alcune sources informed by adding that the decision was approved in a meeting of the board of directors of the The in Luxembourg, ahead of the formal approval expected by EU finance ministers later today today.
Defense, EIB raises ceiling to 100 billion euros
Il new roof of annual expenditure of 100 billion euros exceeds by more than 10 billion the amount disbursed by the EIB last year, and exceeds 5 billion of the 95 billion euros that the president of the EIB, Nadia Calvino, had set as a target at the beginning of the year.
Furthermore, the EIB will be able to more than triple funding for defense-related projects. The amount will increase by 3,5 billion of euros compared to billion last year and will far exceed the 2 billion euros the bank said it would spend in January, the sources said.
The EIB is prohibited from investing directly in weapons or munitions, but can provide loans for so-called “dual-use” purposes, such as GPS systems or buildings and infrastructure for military bases.
The move could bring support to all listed defense stocks. A Business Square today Leonardo e Fincantieri they are practically stationary in a Ftse Mib that is up by around 1%.
European nations are rushing to increase defense spending, under pressure from US President Donald Trump, which announced its intention to reduce decades-long US security support for the continent. Furthermore, it occurs a few days from NATO summit in The Hague, where alliance members are under pressure to increase their commitments in defense matters.
Good financing: which sectors are affected?
According to sources, the increase in EIB lending should also channel money into other sectors, including the'technological innovation and renewable energy. EU officials said the bank, already the world's largest multilateral lender, would also likely announce plans to invest 70 billion of euros in the development of technological companies European in the next three years.
The program, called Tech Eu, aims to help Europe to to compete better with China and the United States in the race for cutting-edge technologies, such as supercomputing, robotics and artificial intelligence, as well as renewable energy. The €70 billion financing will be divided into €20 billion for equity, €40 billion for loans and €10 billion for guarantees over the period 2025-2027, officials say, who hope the money will mobilize another 250 billion of euros of financing from private investors and complements the European Commission's broader efforts to support startup and high risk businesses.
