Brussels – On Wednesday, the President of the European Investment Bank (EIB), Nadia Calviño, stated that Europe serves as “an anchor of trust and stability” for the global community during a period of significant “change” marked by a shift in the global order.
During a public discussion with EFE President Miguel Ángel Oliver, she acknowledged the feelings of “unease” and “concerns” that such changes provoke, yet expressed her “confidence” in the European Union’s ability to maintain “unity” and “successfully navigate” its challenges.
“At a time when everything is changing and uncertainty is the new normal, trust is becoming an invaluable asset. Europe stands as an anchor of trust and stability for the world; this is Europe’s moment,” she asserted.
In this context, Calviño confirmed that “the EIB is well-positioned,” backing essential “European strategic priorities,” such as enhancing the security and defense sector amid the “expansion” of “non-democratic regimes globally strengthened by war readiness.”
€3 Billion for Defense SMEs
“It is crucial for democracies to defend themselves,” she remarked, announcing a tripling of the funding for small and medium-sized enterprises (SMEs) in the defense sector to €3 billion.
The EIB signed its first agreement with Deutsche Bank on Wednesday to provide a €500 million credit and liquidity line for defense SMEs and anticipates a second agreement with Banque Populaire in France soon as part of this initiative.
Calviño stressed that enhancing European defense “is more than merely investing in industry.”
“Every euro financed by the EIB contributes to European security, as energy security, strategic autonomy, technological development, innovation, and technological leadership are vital for Europe’s safety,” she explained.
Climate Bank
Calviño reiterated that the EIB’s “top priority” is to reinforce its status as a climate bank, a strategic commitment that is “indisputable,” given that reducing dependence on fossil fuel imports is also a security issue.
She noted that the bank currently finances 40% of energy infrastructure projects across Europe and will announce “in the coming days” an agreement to support an electrical interconnection between France and Spain, aiming to eliminate the Iberian Peninsula’s status as an energy island.
“The green transition and climate are our number one priority, and we must find ways to amplify our impact,” she stated, adding that the entity’s high credit rating and business model allow for an expanded balance sheet to meet all EU priorities.
The housing crisis was another topic discussed, with Calviño advocating for EU institutions to support national, regional, and local authorities in addressing this pressing issue affecting “almost all” member states.
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