The European Investment Bank Group (EIB) has exceeded its targets for financing cohesion in the EU in 2023. According to a press release, the EIB Group, which includes the European Investment Fund (EIF), committed €36.2 billion in 2023 for projects in the poorer regions of the EU, known as cohesion regions.
The top five beneficiary countries last year were France, Spain, Poland, Italy, Spain and Greece.
"The EIB Group is delivering on its commitments and devoting significant resources to cohesion. In addition to financing, two-thirds of our advisory services are targeted at cohesion regions, providing integrated support tailored to the needs of public authorities, financial institutions and project promoters," said EIB Vice-President Kyriakos Kakouris. "Cohesion policy is the most visible face of EU solidarity and is as important as ever for accelerating the green and digital transition."
EIB cohesion lending in 2023 reached its highest level in the bank's 65-year history, with a notable increase in funding for small and medium-sized enterprises (SMEs) and mid-cap companies. Support for climate and environmental sustainability action amounted to 60% of total commitments in cohesion regions.
The third annual report on "EIB Group Activities in the EU Cohesion Regions" highlights how targeted support unlocks the potential of the regions and has a direct impact on improving the daily lives of citizens.
The EIB's 2023 operations should make it possible to:
- More than 5 million people will have access to improved health services,
- More than 5 million people will benefit from improved access to health services.
- Enabling more than 6 million new subscribers to access 5G services,
- Significant direct and indirect job creation.
