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Luxembourg (enr) – The European Investment Bank (EIB) is on course to meet, and potentially exceed, its target of allocating five percent of its financing in the European Union to security and defence projects this year, EIB President Nadia Calviño said.
That would amount to around 4.5 billion euros, according to the EU’s lending arm.
“Tt’s clear that we need more investment in the area of security and defence in Europe,” Calviño told members of the European Newsroom (enr) network in Luxembourg in June. “For the coming years, we are ready to do more to finance Europe’s security and defence capabilities,” the Spanish former economy minister added.
The EIB significantly increased its support for the sector last year in response to Russia’s war against Ukraine and the broader deterioration in the geopolitical situation. Financing for security and defence projects rose to more than 4 billion euros in 2025, four times the previous year’s level and almost five percent of all EIB Group financing in the EU.
“The shift of policy in security and defence has been a turning point for the EIB Group,” Calviño said.
Within only a few years, the bank had expanded its eligibility rules to include purely military projects. It now supports companies and investment funds active across the security and defence sector.
The EIB has gradually eased its financing rules since 2024. It can now provide funding for military equipment, infrastructure, services and technology. Weapons and ammunition remain excluded.
The Luxembourg-based EIB is the EU’s long-term lending institution. Its owners are the bloc’s member states, and its investments are generally intended to support the European Union’s political objectives.
The enr spoke with Calviño on the sidelines of the EIB’s annual Board of Governors meeting, as well as a meeting of EU ministers responsible for economic affairs, finance and the EU budget.
