A significant slice of the €2.9 billion rise in share capitalization for the EU agency tasked with lending to small businesses is expected to be devoted to the green transformation of the bloc.
The EU-member-state-owned European Investment Bank (EIB) on Friday announced the share capitalization of the European Investment Fund (EIF) it holds a 62% stake in, will rise from €4.5 billion to around €7.4 billion.
The added financial muscle is expected to enable the EIF to play a big role in the bloc's InvestEU program, and particularly its focus on driving green and digital transformations.
European Commission executive VP Valdis Dombrovskis, quoted in an EIB press release on Friday, said of the move: “This means that the EIF will be fully equipped to implement the InvestEU program, to help EU businesses in emerging out of the [Covid-19] crisis, and to support the green and digital transformation of the EU economy.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.