Brussels – In 2025, the European Investment Bank (EIB) invested 13.8 billion euros in Spain, making it the top recipient among European Union nations and representing nearly 14% of the total 100 billion euros in financing provided by the public bank, consistent with the previous year’s percentage.
Of this amount, 2.9 billion euros originated from post-pandemic recovery funds directed to the Spanish economy via the EIB, which contributes to Spain’s leading position in financial support, as noted in the 2025 report released today by the institution.
“2025 has been a record year for the EIB in Spain for two key reasons. First, the resilience and vigor of the Spanish economy, which has a strong demand for investments in high-quality projects. Second, the current situation, which will not last indefinitely, relates to the implementation of the Next Generation EU loans,” stated EIB President Nadia Calviño during a press briefing.
The loans from the post-Covid recovery fund began distribution in 2025 via the EIB to various Autonomous Communities, Calviño added, mentioning that “it is too early to predict how business will evolve in 2026” in Spain.
Following Spain, France emerged as the second-largest recipient, securing 13.121 billion euros, including 121 million in recovery funds; Italy received 12.343 billion euros, with 343 million from post-Covid funds; Germany obtained 10.4 billion euros; Poland 8 billion euros; and the Netherlands 4.1 billion euros.
Excluding the recovery fund contributions, Spain would rank third after France and Italy, according to EIB data, which will disclose the financing results for each area in Spain on February 9.
Record Investment in 2025
Overall, the EIB reported a “record” investment of 100 billion euros in 2025, surpassing the 89 billion euros from 2024, and anticipates maintaining this level in 2026, as explained by Calviño at a press conference.
Nearly 60% (57 billion euros) of the total funding was directed toward “green” projects, with a “record” 11.6 billion euros allocated for energy grids and storage. EIB estimates suggest this investment will facilitate the construction or upgrading of 56,000 kilometers of energy lines, including the Bay of Biscay interconnector between the Iberian Peninsula and France.
The institution also initiated the TechEU technology and innovation investment program last year, which has already seen 22.4 billion euros invested and aims to mobilize at least 250 billion euros by 2027.
Investment in security and defense saw significant growth, quadrupling to 4 billion euros, exceeding the target established after the EIB expanded the range of projects eligible for funding.
With this increase, the institution achieved its 2026 goal of dedicating 5% of total investment to security and defense, and Calviño stated that while it’s premature to predict future investments and contracts, an upward revision of this target may be possible.
Projects funded in this area include military applications, research and development in radar and aviation systems, sensors for underwater asset protection, security infrastructure, and space capabilities.
In housing, the EIB mobilized 5 billion euros through its Affordable and Sustainable Housing Plan, focusing on innovation, renovation, and new construction—a nearly 50% increase from the previous year, which the bank aims to further elevate.
“We expect to sustain this upward trend in 2026,” remarked Calviño, emphasizing that Spain represents one of the “main markets” for the EIB, featuring “important projects in Barcelona” and innovative housing renovation initiatives using new materials.
Additionally, last year, the EIB provided 16 billion euros in guarantees and equity financing for small businesses and start-ups through the European Investment Fund, its venture capital arm, and allocated 9 billion euros for investments outside the EU. (29 January)
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