EIB and Malta’s Ministry for Finance Sign €130 Million Agreement to Boost Sustainable Growth and Innovation

EIB and Malta’s Ministry for Finance Sign €130 Million Agreement to Boost Sustainable Growth and Innovation

(IN BRIEF) The EIB has signed a €130 million agreement with the Maltese government, marking the first tranche of a €260 million financing package aimed at co-financing key EU-backed projects. The funding will support various sectors including healthcare, digital innovation, sustainable transport, and environmental protection, reinforcing Malta’s commitment to a smarter, greener, and more resilient economy. This partnership, which is part of the EIB’s broader strategy to support Malta’s growth, will have a lasting impact on economic development, social cohesion, and environmental sustainability.

(PRESS RELEASE) LUXEMBOURG, 14-Feb-2025 — /EuropaWire/ — The European Investment Bank (EIB) has formalized the first €130 million portion of its €260 million financing agreement with the Ministry for Finance in Malta, marking a significant milestone in the island nation’s journey toward a smarter, more sustainable economy. This funding is aimed at co-financing key EU-backed projects from 2021 to 2027, focusing on sectors such as healthcare, digital innovation, and environmental sustainability. The agreement, signed in Valletta by Clyde Caruana, Malta’s Minister for Finance, and Kyriacos Kakouris, EIB Vice-President, is expected to stimulate economic growth, create jobs, and enhance social cohesion.

The financing will be pivotal in supporting Malta’s national co-financing contribution to various EU funds, including the Cohesion Fund, the European Regional Development Fund, and the Just Transition Fund, among others. These funds will support projects ranging from modernizing healthcare infrastructure and promoting digital transformation to advancing sustainable mobility initiatives and strengthening the country’s SMEs. In addition to driving innovation, the funding will bolster environmental initiatives, focusing on energy efficiency, wastewater management, and biodiversity protection.

Clyde Caruana, Malta’s Minister for Finance, expressed the importance of the financing package, highlighting its potential to support the nation’s economic growth and enhance the well-being of its businesses and society. EIB Vice-President Kyriacos Kakouris emphasized the strategic importance of the agreement, which underscores the EIB’s commitment to Malta’s sustainable future. Since 1979, the EIB has invested over €1 billion in Malta, supporting key projects across various sectors, and continues to prioritize investments that promote resilience, sustainability, and long-term economic growth.

The EIB in Malta

The European Investment Bank (EIB) has been supporting the Maltese economy since before the country’s accession to the European Union, with its first project signed in 1979 to help expand the commercial port of Valletta Grand Harbour. Since then, the EIB Group’s financing in Malta has exceeded €1 billion, aiding vital sectors such as SME access to finance, urban regeneration, climate action, telecommunications, and the construction of affordable housing. The EIB has also supported landmark infrastructure projects that have transformed the heart of Valletta, including the Parliament building and the open-air theatre at the City Gate. As the EU’s long-term lending institution, the EIB remains committed to promoting sustainable investment and fostering economic resilience in Malta and across Europe.

Background information   

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

Media Contact:

Lorenzo Squintani
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+352437982528

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SOURCE: European Investment Bank