“If we remove this constraint… we can increase our capacity to invest without any impact on European taxpayers,” Calviño said at an event in Brussels on Monday.
An EU diplomat who spoke anonymously to speak freely said the EIB’s involvement “makes the whole thing (EU spending) more market-oriented.” Unlike grants paid by national governments, the EIB only distributes money to companies expected to make a profit and repay their loan.
Calviño on Monday ruled out raising additional capital which would typically require a liquidity call to the governments of member countries, which are the EIB’s shareholders.
It is no coincidence that the bank is ready to step up its investments at a time when capital has been reluctant to inject more money into the European Union’s 1.2 trillion liquidity reserve. euros.
“We need to join forces with the European (Investment) Bank and it would be very natural for there to be close cooperation,” EU Budget Commissioner Johannes Hahn said at a press briefing on Monday.
The EU executive will present a formal proposal for the new budget in summer 2025, which must be unanimously approved by governments before the end of 2027.
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