The European Investment Bank (EIB) Group has secured €70 billion in funding from EU member states for TechEU, the bloc's largest technology innovation support programme.

The announcement came during Friday's EIB Board of Governors meeting in Luxembourg, where finance ministers approved a €100 billion funding ceiling for 2025.

This expanded budget will focus on three key areas: security and defence (receiving 3.5 per cent of total funding), European power grid infrastructure (over €11 billion), and technological advancement initiatives. The TechEU programme specifically will deploy €70 billion between 2025 and 2027 through various financial instruments including equity investments, loans and guarantees, aiming to leverage at least €250 billion in private sector investment.

TechEU will target cutting edge sectors including artificial intelligence, supercomputing, digital infrastructure, green technologies (particularly offshore wind), advanced materials, robotics, and health innovations. The programme is designed to support companies throughout their growth cycle, from initial startup phase to public listing.

As part of its first wave of measures aligned with the EU Clean Industrial Deal, TechEU will implement several cleantech initiatives including a €1.5 billion counter guarantee scheme for power grid component manufacturers to ensure stable supply chains, a €500 million pilot programme to encourage corporate power purchase agreements, a €250 million CleantechEU guarantee scheme, and an additional €1.5 billion investment in European wind turbine manufacturing.

These measures aim to accelerate renewable energy integration while maintaining affordable electricity prices across EU markets.

EIB Group president Nadia Calviño stated: "The unanimous approval from our 27 member state shareholders demonstrates the EIB Group's crucial role in advancing Europe's strategic priorities through record funding for defence, energy security and technological leadership." She added: "In an era of rapid global transformation, the EU remains a steadfast source of clarity, confidence and stability."

The funding increase reflects growing European emphasis on technological sovereignty and clean energy transition, with the EIB positioned as a key financial catalyst for these strategic objectives.

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