EIB's Strategic Defense Boost and Innovation Drive

The European Investment Bank is set to increase its lending for defense projects to 4.5 billion euros in 2026. Additionally, the bank aims to foster tech innovation in Europe through a 70 billion-euro scheme, focusing on turning emerging tech companies into unicorns with help from the European Tech Champions Initiative.

The European Investment Bank (EIB) is preparing to significantly bolster its funding for defense projects, raising its commitment to 4.5 billion euros next year, from the projected 3.5 billion euros in 2025. EIB President Nadia Calvino confirmed this during an EU finance ministers' meeting in Brussels, citing demand and project pipelines as key influences.

Calvino highlighted a strategic focus on military mobility, critical infrastructures along the Eastern border, and anti-drone systems. She also noted that the bank's total lending for 2026 remains at 100 billion euros, with more than half allocated to climate change initiatives.

In parallel, the EIB continues to support tech innovation growth within Europe through its 70 billion-euro scheme. This initiative is part of the European Tech Champions Initiative, conceived to help budding tech firms grow into unicorns. Although currently supported by six EU countries, the program's success has gained the interest of additional EU governments eager to participate.

(With inputs from agencies.)