Belgian projects received over 2bn euros in EU funding in 2024
The European Investment Bank (EIB) and the European Investment Fund (EIF) - both part of the EIB Group - provided a total of 2.06 billion euros in financing to projects in Belgium in 2024, the EU's financial arm announced on Thursday.
Last year, the EIB Group provided almost 89 billion euros in new financing for projects supporting EU policies. Of this, 2.06 billion euros went to Belgium, including 146.9 euros million from the EIF in the form of loans, equity and guarantees.
The EIB Group's financing focuses on investments that benefit the climate and the environment. Four-fifths of the investment volume in Belgium was "climate-related", it said on Thursday.
"By investing in energy security, we are also making a strong commitment to European autonomy"
"The investments we made in Belgium last year clearly show that the green transition continues unabated," said EIB Group vice-president Robert de Groot. "By investing in energy security, we are also making a strong commitment to European autonomy, because we have seen the problems that dependence on others can lead to."
Green energy
For example, the EIB provided a loan of 650 million euros to high-voltage grid operator Elia for the construction of Princess Elisabeth Island, an artificial energy island off the Belgian coast, while Umicore received a loan of 350 million euros to develop cathode materials for electric car batteries.
De Watergroep, the largest drinking water company in Flanders, received a loan of 350 million euros to invest in its water supply network. The EIB provided a further 37.5 million euros for a venture loan to the Walloon medical technology company Nyxoah for the development of its treatment for sleep apnoea.
"In the coming years, we want to focus on investing in projects that directly affect the population, such as affordable housing, the water sector and energy," said De Groot. It will also support the "booming" biotech sector in Belgium, as well as security and defence projects.
The construction site of the Princess Elisabeth energy island © BELGA PHOTO JONAS ROOSENS
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