As a result of a new agreement between the European Commission and EIB Global, private project partners, small and medium-sized enterprises (SMEs) and financial institutions in EU’s partner countries will have access to €1.3 billion in funding to support infrastructure projects in clean energy and digitalisation. This new initiative is supported by a €362 million EU’s EFSD+ guarantee that will benefit companies and banks in the Western Balkans (€99 million), Eastern Neighbourhood (€30 million), Türkiye (€22.5 million) and the Middle East and North Africa (€ 210 million) over the next three years.

The agreement will strengthen ties between the EU and its neighbourhood, enhance energy security and create local jobs. At the same time, it will support the EU’s Global Gateway strategy, the Pact for the Mediterranean and its connectivity and enlargement agenda. It is also an important step in delivering the EIB Global Strategic Orientation.

Commissioner for the Mediterranean, Dubravka Šuica, said: “This agreement further strengthens the EU – EIB cooperation to provide financial support for investments under the Pact for the Mediterranean. Together, we will be able to deliver projects on key sectors, such as renewable energy, water and digital projects and, at the same time, create business opportunities for local and European business.”

The package will:

• benefit key value chains such as textiles and agrifood, as well as innovation, green and social projects in the Eastern and Southern Neighbourhood and the Western Balkans. EIB Global will channel this support through €482 million in financing for local banks.
• help attract more private investments in green and digital transition projects in the Western Balkans. €167 million in guarantees will reduce risks for financial intermediaries and therefore boost lending for clean energy, energy efficiency and digital projects in the region.
• provide up to €691 million in EIB financing for major connectivity and renewable energy projects in the Southern Neighbourhood, the Western Balkans and Türkiye.