EIB to boost lending for EU defence projects in 2026

BRUSSELS, Dec ‌12 (Reuters) - The European Investment Bank, the EU's lending arm, will boost lending for ‍defence projects ‌to 4.5 billion euros ($5.28 billion) next year from 3.5 billion in 2025, and might revise ⁠the number even higher if there is ‌more demand, EIB President Nadia Calvino said.

Speaking on the sidelines of an EU finance ministers' meeting in Brussels, Calvino said the expected increase to 4.5 billion euros was based on projects that were already ⁠in the pipeline.

"We will be focusing especially on military mobility and critical infrastructures, Eastern border and anti-drone systems," Calvino ​told Reuters.

"We will do at least 4.5 billion. This reflects ‌the current pipeline, what we're working ⁠on. More orders could come next year as well. Every year we have a review process where we can adjust amounts if necessary," she said.

The money will come out ​of the bank's total lending in 2026 that is planned at 100 billion euros, the same as in 2025. More than half of that lending next year will go to projects that help fight climate change.

The bank will also lend from its 70 billion-euro, ​three-year scheme ‍to boost the EU's innovation ​sector of tech companies that want to grow in Europe but lack the needed capital, as the EU makes an effort to retain the most promising firms.

Calvino said the bank's programme for innovative tech firms in Europe has already produced nine companies that have grown to more than 1 billion euros in valuation. Because such firms are rare, they are called ⁠unicorns in venture capital terminology.

So far only six EU countries have contributed extra money to the EIB's programme called the European Tech ​Champions Initiative to help innovative firms scale up in Europe. 

But Calvino said that since the scheme has proven successful, many more EU governments are interested in joining.

"We're working to scale this up, so in the first part of next year, ‌in early 2026 ... we intend to come forward with the second phase of this European Tech Champions Initiative," she said.    

($1 = 0.8523 euro)

(Reporting by Jan Strupczewski in Brussels; Editing by Matthew Lewis)