, president of the European Investment Bank (EIB) Group, record results for 2024, marking a significant achievement for the Luxembourg-based financing institution of the European Union, owned by its member states, in its efforts to support Europe’s energy security, climate action and economic development. In a speech on Thursday 30 January 2025, Calviño revealed that the EIB Group mobilised over €100bn in new investments aimed at enhancing Europe’s energy infrastructure, with nearly 60% of the total financing dedicated to the green transition, climate action and environmental sustainability.
In its annual review, Calviño highlighted a substantial focus on higher-risk investments in 2024 for the EIB, with €8bn committed to equity and quasi-equity projects. This is expected to generate €110bn in growth capital for startups and scale-ups across Europe, reinforcing the EIB’s role in supporting innovation and technological advancement. Additionally, Calviño noted in her presentation that financing for security and defence projects doubled to €1bn, with plans for further doubling in 2025, focusing on dual-use projects such as military mobility, border protection and cybersecurity.
The total amount of new financing signed by the EIB Group in 2024 reached €89bn, a record high. Among these investments, €31bn was directed towards strengthening EU energy security, including investments in renewables, energy efficiency, electricity grids and storage solutions. Of this, €8.5bn was dedicated to transmission network upgrades and interconnectors in Spain, Czechia and Germany, contributing to over €100bn in total energy infrastructure investment.
Further highlights from 2024 included a record €51bn allocated to the green transition. Calviño pointed to projects ranging from zero-emissions tyre factories in Romania to sustainable mobility in Valencia, with the €51bn forming part of the EIB Group’s larger goal of supporting €1trn in climate and environmental sustainability investments by 2030.
The European Investment Fund (EIF) also made significant contributions, with €14bn invested to support small businesses and innovators. Of this, €7.2bn was directed towards the equity funds ecosystem, and €1bn was allocated to venture debt. The EIF supported 102 venture capital funds, including a fund dedicated to fostering women-owned and gender-balanced startups in space and deep-tech industries.
Looking forward, Calviño outlined the EIB Group’s target to increase its investments to €95bn in 2025. This will include support for European tech champions in sectors such as clean-tech, artificial intelligence, quantum computing and medical technologies. Additionally, the EIB Group plans to scale up investments in critical raw materials and energy efficiency projects for small and medium-sized enterprises focused on CO2 reduction and lowering energy costs.
A key area of focus for 2025 will be a €4.5bn water programme aimed at addressing water scarcity and enhancing flood resilience amid growing climate challenges. The EIB Group will also extend its successful European tech champions initiative (ETCI) to further support the growth of Europe’s most promising startups. In response to rising demand for affordable housing, Calviño mentioned that the EIB Group will launch a pan-European investment platform, in collaboration with the European Commission and other stakeholders, to support sustainable housing projects across the EU.
Calviño also emphasised the EIB Group’s ongoing commitment to improving operational efficiency. In 2024, it introduced simplified appraisal procedures for over 40% of its operations, aimed at reducing red tape and accelerating investment approvals.
“We have broken records with our financing in 2024. We have made ourselves ready to support EU priorities in this new political mandate,” Calviño stated. “In 2025, we will play an even more relevant role, increasing our impact and bolstering Europe’s security and competitiveness through strategic and ambitious investments.”