The Boards of Directors of the European Investment Bank (EIB) and the European Investment Fund (EIF) approved a total of \u20ac9.2 billion in fresh financing to expand innovation in the housing sector, strengthen energy security and support healthcare and water systems across Europe.<\/p>\n
The EIB Board authorized a first-of-its-kind \u20ac400 million HousingTech initiative to support mid-cap and large companies in the EU housing market to accelerate industrial, technological and construction innovation. This new funding will help develop new construction materials, machinery and engineering to improve the quality and lower the costs of housing, while boosting European innovation and competitiveness.<\/p>\n
This new initiative backs the EIB Group\u2019s\u00a0Action Plan for Affordable and Sustainable Housing<\/a>, which aims to increase financing for affordable and sustainable housing across Europe to more than \u20ac4 billion in 2025.<\/p>\n \u201cQuality healthcare and access to better homes are pillars of the social infrastructure that underpins the European way of life,\u201d said EIB Group\u00a0President Nadia Calvi\u00f1o. \u201cThe breakthrough housing innovation initiative adopted this week shows that Europe delivers for its citizens.\u201d<\/p>\n In addition to the HousingTech initiative, the EIB Group Boards cleared the way for a total of 13 operations under TechEU with a focus on the green and digital domains in Europe. In a milestone move for the health sector, the EIF endorsed an investment in Europe\u2019s first venture capital fund focused on paediatrics. This pioneering initiative seeks to transform cutting-edge research from children\u2019s hospitals and academic institutions into breakthrough therapies, addressing critical unmet needs in child healthcare.<\/p>\n TechEU is the EU\u2019s largest financing programme to date in support of innovation and tech leadership to attract talent, capital and investment in Europe. The first TechEU wave backed the\u00a0Clean Industrial Deal<\/a>\u00a0and the second focuses on housing and building innovation.<\/a><\/p>\n The EIB also approved financing for a new affordable housing project in Germany, a new hospital in the Netherlands, wind energy in Germany and Portugal, water infrastructure in Italy and Lithuania, and sustainable transport in Poland.<\/p>\n Beyond the EU, the EIF Board approved a new transaction aimed at unlocking more than \u20ac200 million in financing for small and medium-sized enterprises (SMEs) in Ukraine, an initiative meant to provide vital support to local businesses and stimulate economic resilience. In addition, the EIB Board endorsed new financing for Africa\u2019s private sector development and support for water projects in Brazil, hospitals and energy networks in Serbia and geothermal energy in Iceland.<\/p>\n Civil society seminar<\/p>\n Earlier this week, the EIB Board also held its\u00a0annual seminar<\/a>\u00a0with nearly 100 registered participants from civil society organisations to discuss lending activities in Ukraine and cooperation with other multilateral development banks amongst other topics.<\/p>\n