Latest news with #TechEU
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027
The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said. The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies. The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying. The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said. The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering. The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.
Yahoo
3 days ago
- Business
- Yahoo
EIB to allot 70 billion euros for tech sector in 2025-2027-officials
BRUSSELS (Reuters) -The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said. The programme, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies. The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilise a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, EU officials said. The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said. The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering. The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defence technologies, robotics and advanced materials, the officials said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
EIB to allot 70 billion euros for tech sector in 2025-2027-officials
BRUSSELS (Reuters) -The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said. The programme, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies. The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilise a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, EU officials said. The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said. The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering. The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defence technologies, robotics and advanced materials, the officials said. Sign in to access your portfolio
Reuters
3 days ago
- Business
- Reuters
EIB to allot 70 bln euros for tech sector in 2025-2027-officials
BRUSSELS, June 20 (Reuters) - The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said. The programme, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies. The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilise a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, EU officials said. The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said. The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering. The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defence technologies, robotics and advanced materials, the officials said.
Yahoo
19-05-2025
- Business
- Yahoo
EIB to offer $78bn for tech companies and innovators
The European Investment Bank (EIB) is set to invest €70bn ($78.15bn) in startup funding for technology companies and innovators by 2027. The announcement was made by EIB Group president Nadia Calviño during an interview with the German daily Handelsblatt. This initiative, dubbed TechEU, aims to close the investment gap between Europe and the US, supporting private investors to participate in projects and potentially unlocking €250bn in investment for the European tech sector. This funding will also support the exit of company founders and venture capital investors who often sell their stakes to US investors. The EIB will assist EU companies in acquiring startups to retain technologies within Europe. The TechEU platform, launching later this year, will offer a comprehensive solution for researchers and companies seeking financing. The EIB will collaborate closely with the European Commission, and national promotional banks such as Germany's KfW may also participate in the initiative. This plan requires approval from the Bank's board of governors, comprising finance ministers from the 27 EU Member States. Calviño said there exists an opportunity in the uncertainty caused by US President Donald Trump's economic policies. 'The current situation in the US creates an opportunity for Europe to attract talent, to attract investment, to attract capital. We see strong interest in Europe from international investors.' In 2024, the EIB lent €89bn in private investment and plans to provide €95bn this year. The TechEU platform will streamline EU funding programmes for researchers and startups, requiring only a single project appraisal. Calviño added that the initiative 'aims to nurture private venture capital ecosystem in Europe' to reduce the need for European startups to seek growth capital in the US. "EIB to offer $78bn for tech companies and innovators" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
