BAKU, Azerbaijan, January 31. In 2024, the European Investment Bank (EIB) Group ramped up its support for Germany, approving over 9.6 billion euros in financing to boost competitiveness and innovation across key sectors, Trend reports.
This marks the EIB’s largest financing volume in Germany in 15 years and the second-largest in its history. The funds supported investments totaling 49 billion euros, unlocking five times the value of the EIB’s contribution.
EIB Vice-President Nicola Beer highlighted that these investments aim to strengthen Germany’s economic future by supporting businesses in adopting renewable energy, cutting energy consumption, and fostering technological innovation. The financing focused on expanding critical infrastructure for both the digital and green transitions.
Key projects included a 425 million euro loan to ZF for developing new braking systems for semi-autonomous vehicles and up to 800 million euros for Bayer’s research into new treatments for cardiology and cancer. These initiatives helped mobilize private equity, demonstrating the EIB’s role in attracting further investment.
In 2024, the EIB Group also expanded its support for small and medium-sized enterprises (SMEs), helping over 10,000 businesses and securing 390,000 jobs. The EIB and its subsidiary, the European Investment Fund (EIF), worked with partner banks to create portfolios that facilitated financing for climate action and innovation, including a 200 million euro guarantee for IKB’s loan portfolio.
Digitalisation efforts included funding fibre-optic network expansions, bringing gigabit internet to over one million households. The EIB also backed startups like Eavor-Loop, a geothermal energy company, and Sunfire, which produces electrolysis systems for green hydrogen.
As part of its climate action strategy, the EIB invested 5.2 billion euros in 2024, with 56% of its total financing directed at climate-related projects. Notable initiatives included a 1.2 billion euro investment in RWE’s offshore wind farm and 2 billion euros in wind energy loans alongside Deutsche Bank and Commerzbank.
The EIB also provided significant funding for municipal infrastructure projects, including a 400 million euro loan for modernising electricity grids in Thuringia, as well as €1 billion for new trains in Cologne. Additionally, the EIB supported affordable housing projects and sustainable housing solutions, such as prefabricated wooden apartments in Berlin.
With these efforts, the EIB Group continues to play a pivotal role in strengthening Germany’s economy and supporting its green and digital transitions.