The European Investment Bank (EIB) has announced projects including a desalination plant, a grain terminal and energy efficiency programmes.
The EIB has announced financial support for desalination in Israel, economic development in Palestine, green and digital transition in Estonia, a new grain terminal in Bulgaria and small business and green development in Spain.
Bulgaria
The EIB has signed an agreement with Logistic Centre Varna EAD, part of Buildcom Group, for a €50m loan to co-finance a new grain terminal at the Black Sea port of Varna. The EIB financing is backed by the InvestEU programme and the project will support food safety, promote less carbon intensive maritime transport and boost economic growth in the region by providing improved access to the export market for local agricultural producers.
The new grain terminal is expected to become operational in the second quarter of 2026 and consists of a new quay, a silo and other storage facilities as well as a new railway and road access.
EIB vice presidentLilyana Pavlova commented: “The EIB is proud to strengthen its partnership with the Buildcom Group. The financing affirms our commitment to support Bulgarian business in modernising and expanding their operations in a sustainable way, contributing to the country’s regional and economic development and increasing its competitiveness”.
Estonia
The EIB and Estonian authorities have signed a €300m financing agreement to support investment in green and digital transition projects. The loan is the first tranche of a larger financing agreement, and also includes the co-financing of projects to support a just transition to a low-carbon economy in Ida-Virumaa.
The structural programme loan (SPL) agreed is a dedicated product for the co-financing of projects backed by European Structural and Investment Funds. The total volume of investment planned is €5.2bn, with around €3.4bn to be financed by EU structural funds, and the rest to be provided as national co-financing, which also includes the EIB loan.
Minister of finance of Estonia Mart Võrklaev commented: “This financing agreement is of great importance as it facilitates the smooth implementation of EU structural funds in Estonia. I would also like to emphasise that the flexible terms of EIB loans help reduce the burden on the state budget in the long run and diversify Estonia’s debt obligations. Investments in digital and green reforms are of significant importance to our economy, which can be stimulated by making it greener and smarter.”
Israel
€150m has been announced to support the design and construction of the €425m Western Galilee desalination plant, the first plant constructed in the northern part of Israel.
Upon completion, the plant should enable Israel to meet 85% of its potable water needs from desalination of sea waters, avoiding the degradation of fresh water sources in the Middle Eastern nation and providing a climate-resilient source of water in the region.
Gelsomina Vigliotti, vice president of the European Investment Bank, commented: “This builds on previous EIB support for four out of Israel’s large scale desalination schemes and visionary projects in Jordan and Djibouti. The EIB’s latest support underscores our commitment to promoting climate adaptation, resilience and sustainable water management here in water stressed regions around the world.”
The Western Galilee desalination plant, to be named Birkat Miriam, will join Israel’s other large scale desalination plants in operation – Ashkelon, Ashdod, Palmachim, Hadera and Sorek 1 – while IDE also constructs Sorek 2. These desalination plants have significantly increased the amount of desalinated water available for Israel’s water needs. The additional water contribution from the Western Galilee plant is expected to bring total production of desalination plants in Israel to almost 900 million cubic meters per year, representing 85-90% of household and industrial water consumption.
Spain
The EIB and Bankinter have signed an agreement for the purchase of a covered bond worth €250m, enabling Bankinter to mobilise up to €500m to support investment by small companies and mid-caps and in green projects that focus specifically on energy efficiency improvements.
Investment earmarked for energy efficiency projects will contribute toward the objectives of REPowerEU, the EU plan designed to eliminate Europe’s dependence on fossil-fuel imports.
Energy efficiency upgrades will focus on the construction of nearly zero-energy buildings and on the renovation of existing building stock. Projects by private individuals, homeowner associations and real estate developers are all eligible for financing. Other green investments, such as solar photovoltaic installations for residential buildings will also be covered by this operation.
Half of these projects are expected to be located in EU cohesion regions in Spain and Portugal. These are regions with a per capita gross domestic product below the EU average. The operation will help alleviate these issues and promote equitable growth and convergence between EU regions, which is one of the key aims of the EIB’s cross-cutting activities.
Palestine
The EIB and Palestine Investment Bank (PIB) have announced plans to strengthen targeted business financing to help Palestinian businesses expand business activity and create new jobs. The new cooperation formally agreed in Ramallah is designed to specifically support entrepreneurs and small businesses who face challenges accessing finance due to a lack of collateral.
The new initiative will open up €19m of new financing to entrepreneurs and business through 19 local offices and the high-impact business financing cooperation, backed by the European Union, complements and enhances the $20m EIB credit line, to support Palestinian SMEs most impacted by the Covid-19 pandemic, provided through PIB agreed in 2021.
This is the first ever EIB portfolio guarantee business financing cooperation with the Palestine Investment Bank. PIB chairman Abed Dayeh said: “Palestine Investment Bank is committed to enhancing investment by Palestinian business. This new and timely support from the European Investment Bank and the European Union will help to address investment gaps and strengthen resilience to global economic, inflation and energy shocks and unique local challenges.”
