Politics
EIB to provide $110 million to finance energy efficiency and renewable energy investments
- $110 million loan to Banco del Estado de Chile to finance energy efficiency and renewable energy investments for small and medium businesses and industries among others, including the value chain companies for critical raw materials in the country.
Today the European Investment Bank (EIB) and Banco del Estado de Chile signed in Santiago de Chile a $110 million loan to finance energy efficiency and renewable energy investments for small and medium businesses and industries among others, including the value chain companies for critical raw materials in the country. The operation is in line with the EU Global Gateway Investment Agenda in Chile and fosters partnerships to develop sustainable local value chains in the critical raw materials segment.
The loan was signed by Daniel Hojman, President of Banco del Estado de Chile, and by Thouraya Triki, EIB Director of the International Partners Department, in the presence of the European Commissioner for International Partnership Jozef Sikela.
The project, 100% climate action, supports Chile’s transition to a decarbonised, environmentally friendly, and inclusive economy, reinforcing the country’s efforts to enhance renewable energy and energy efficiency measures. Mining companies or companies providing services to the critical raw materials sector, and implementing energy efficiency and renewable energy sub-projects, can also be targeted as final beneficiaries, thus supporting the decarbonisation of the critical raw materials supply chain, which is needed to ensure a clean energy transition in the country.
“This $110 million financing agreement between the European Investment Bank and Banco del Estado de Chile is a relevant contribution towards a cleaner and more efficient energy future. We are investing in renewable energy and energy efficiency, especially for small and medium businesses, thereby strengthening the decarbonisation of the Chilean economy. This initiative reflects our shared commitment to climate action. Through the Global Gateway Investment Agenda, Chile and the European Union are strengthening our collaboration, ensuring that economic growth and environmental protection go hand in hand,” said Jozef Sikela, European Commissioner for International Partnership.
“This agreement between BancoEstado and the European Investment Bank strengthens the cooperation between our two financial institutions, with the aim of accelerating the adoption of green energy. This complements our previous partnership, which sought to improve the financial access conditions for housing with enhanced energy efficiency standards. Sustainability is an integral part of our identity as a public bank, and green financing is one of our strategic pillars, in line with supporting Chile’s transition towards an economy committed to climate action and environmental conservation,” said Daniel Hojman, President of Banco del Estado de Chile.
“The $110 million EIB financing in energy efficiency and renewable energy generation supports Chile’s green transition and the EU’s Global Gateway Investment Agenda in Chile while strengthening energy security in the years ahead. This operation contributes significantly to decarbonise the energy supply in the country and unlocks energy efficiency potential in small and medium businesses and industry, including in the critical raw materials sector. This cooperation with Banco del Estado de Chile builds on the EIB’s global climate engagement and our support for climate action in Chile over the last three decades,” said Ioannis Tsakiris, Vice-President of the European Investment Bank.
The operation is part of the European Union’s Global Gateway Investment Agenda (GGIA) supporting projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. The Global Gateway is the European Union’s contribution to narrowing the global investment gap worldwide. Between 2021 and 2027, the European Union expects to mobilise up to €300 billion of investments for sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities.
Background information
About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue EU policy objectives.
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world. Photos of EIB headquarters for media use are available here.
High-quality, up-to-date photos of our headquarters for media use are available here.
About EIB Global in Chile
The EIB is the largest multilateral public bank in the world. In 2024 it financed around €8.4 billion in investments outside the European Union via EIB Global, the arm of the EIB created in 2022 for activities beyond Europe. Since the EIB started working in Chile in 1994, it has provided over €942 million to finance investments on favourable conditions — in terms of both maturity and interest rates — with the aim of improving Chileans’ quality of life.
About EIB Global in Latin America
EIB Global has been providing economic support for projects in Latin America since 2022, facilitating long-term investment with favourable conditions and offering the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in Latin America in 1993, it has provided total financing of around €14.9 billion to support more than 170 projects in 15 countries in the region.
About the Global Gateway Investment Agenda
EIB Global is a key partner in the implementation of the European Union’s Global Gateway Investment Agenda (GGIA), supporting sound projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. Investing in connectivity is at the very heart of what EIB Global does, building on the Bank’s 65 years of experience in this domain. Alongside our partners, fellow EU institutions and Member States, we aim to support investment of €100 billion (around one-third of the overall budget of the initiative) by the end of 2027, including in Chile and Latin America.
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Commission has approved a new round of 135 projects under the Technical Support Instrument (‘TSI’), to support Member States to prepare, design and implement a total of 390 reforms in 2025.
The selected projects will help the Member States address reforms in key priority areas to strengthen the Union’s resilience and competitiveness and to improve citizens’ lives across the EU. Two-third of the projects are linked 15 flagship projects aimed at addressing common reform needs in the EU, such as impoving the quality of public administration, provide a better business environment for SMEs, or to make energy systems fit for the green and digital transition.
TSI helps Member States to deliver on key political priorities
In line with the key priority to strengthen the Union’s competitiveness, the TSI will support 109 reforms to help Member States improve their business environment, close the innovation gap, build a net-zero economy, and promote the Union’s economic security. For example, the TSI will support 38 reforms in 22 Member States to reduce unnecessary administrative burden for SMEs, to promote start-ups and scale ups and to enable them to be more productive, competitive and resilient.
More than 130 reforms to support the digital transition have been selected in 2025, with a strong focus on Artificial Intelligence (‘AI’) and innovative technologies. These will support Member States to reap the productivity gains from technology towards tomorrow’s economy. For example, with the project “FutureProof Education”, the TSI will support schools in Germany, Sweden, and Ireland to develop guidance for the responsible and meaningful use of AI in schools, as well as to set up AI literacy programmes.
Supporting collaboration among Member States towards a modern and efficient public administration
In 2025, 40 multi-country projects will address common challenges of Member States through the TSI. Multi-country projects promote the development of common approaches and include peer learning and the exchange of best practices. For example, 14 Member States will work together to effectively implement EU tax legislation to modernise and simplify tax and customs procedures and reduce the administrative burden for SMEs.
Enhancing the capacity of Member States’ public administrations and their cross-country collaboration is vital for the modernisation of our Union. This year, 119 reforms supported by the TSI will assist Member States in strengthening their public administrations to effectively tackle current and future challenges. In line with the ComPAct communication adopted in October 2023, TSI will support efforts of the Member States to converge on closing skills gaps, enabling digital transformation, and preparing administrations to lead the green transition.
Background
The TSI helps Member States deliver on their reform agenda in a wide range of policy areas. It provides tailor-made expertise to Member States’ authorities who apply for support on an annual basis. It does not come in the form of financial support but consists of the provision of high-quality and tailored expertise and knowledge and can take the form of strategic or technical advice, studies assessing reform needs, training, or in-country missions by experts.
The TSI has been providing technical support to all 27 Member States to implement more than 2000 cutting-edge reforms in a wide range of areas such as revenue administration and public financial management, public administration and governance, growth and business environment, labour market, education and social services, migration, and financial market and access to finance. So far, the TSI has supported close to 500 reforms linked to the Recovery and Resilience Plans.
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The Commission has today paid an advance of €100 million from the EU Solidarity Fund (EUSF) to Spain to help finance its recovery efforts following the October 2024 DANA storm in Valencia. This is the maximum amount allowed under the EUSF as advance payment.
Spain’s official EUSF application for DANA-related damages, submitted in January 2025, is currently being assessed by the Commission. Once this assessment is concluded, the Commission will make a proposal for the total amount to be granted from the EUSF to Spain.
Executive Vice-President for Cohesion and Reforms, Raffaele Fitto, stated: “The DANA storm has caused profound devastation in Valencia with hundreds of lives lost and many homes and infrastructure destroyed. Our commitment to supporting the people and the region through this challenging recovery remains unwavering.”
The EU Solidarity Fund is a post-disaster relief instrument providing financial support to EU Member States and candidate countries for their recovery efforts in the aftermath of severe natural disasters.
The funding can be used to restore essential infrastructure such as energy, water, health, education, or telecommunications systems, as well as for measures to protect cultural heritage or for clean-up operations. Granting an advance payment does not prejudge the final amount of the EUSF assistance to be granted, which will depend on the Commission’s assessment of Spain’s application and on budgetary availability.
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Politics
European Urban Initiative: 20 innovative projects selected to transform cities across Europe
The European Commission and the Hauts-de-France Region, as the Entrusted Entity for the European Urban Initiative (EUI), have announced the results of the third call for innovative actions. With €94 million in funding from the European Regional Development Fund (ERDF), 20 selected projects from 13 EU Member States will test innovative solutions in real urban environments, supporting cities in their transition to a greener and more digital future. Projects include giving a second life to used EV batteries in Tilburg, the Netherlands, and repurposing vacant public buildings for the needs of the community in Košice, Slovakia. Each project will receive up to €5 million from ERDF, co-financing 80% of the eligible costs.
Beyond their implementation in selected cities, these projects will serve as blueprints for other urban areas across Europe. A part of this funding will also support knowledge transfer and the replication of successful solutions tested by these projects in other EU cities, further amplifying their societal and economic impact.
The full list of winners can be consulted on EUI website.
Background
In the 2021-2027 programming period, Cohesion policy has a strong urban dimension, and its support to sustainable urban development has been reinforced to help cities take active role in designing and implementing policy responses to their local challenges and needs.
As a result, cohesion funds will invest over €100 billion in cities, with more than €24 billion directly managed by cities for designing and implementing investments under Cohesion policy programmes.
The EUI is a key instrument of the European Union’s Cohesion policy, specifically targeting city authorities to strengthen urban innovation and capacity- and knowledge-building for sustainable urban development. The EUI allows cities to test innovative and creative solutions to address their specific urban challenges, ensuring that the solutions developed and tested are transferable and replicable across other EU cities.
The 20 projects selected today will join to the community of 36 ongoing projects selected within the previous two calls: the first call (in 2022), which focused on the New European Bauhaus, and the second call (in 2023), which was dedicated to themes on greening cities, sustainable tourism, and harnessing talent in shrinking cities.
With a budget of EUR 395 million, the EUI builds on the legacy of the Urban Innovative Actions, the Commission’s initiative implemented during the 2014-2020 programming period, but it has a stronger focus on innovation led by cities themselves and on sustainability of innovation as well as replicability in other cities.
Beyond innovation, the EUI supports the capacities of all urban areas across the EU. It provides evidence for policymaking and shares knowledge on sustainable urban development, including via the Urban Agenda for the EU and Portico, the European urban knowledge platform.
The experience of the EUI implementation will also contribute to the preparation of a comprehensive EU Agenda for Cities in the course of 2025 that is aimed at taking stock of EU initiatives and instruments the European Commission has put in place over the years with a view to streamlining and simplifying the current support and making it accessible to all potential city beneficiaries. The Agenda also aims to examine how to enhance processes through which the concerns of cities could be stronger reflected in future EU policy making. The call for evidence concerning the content of the Agenda targeted at the public at large will soon be opened at the Have your say portal of the European Commission.
More information
Selected projects
European Urban Initiative
Cohesion Data Platform
Kohesio Projects Platform
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