Tag Archives: economic development

National Grid completes $32 million Perry Street substation upgrade to expand Buffalo power capacity

National Grid Perry Street substation exterior in Buffalo with utility lines and mural panels on the brick wall

The modernized 110-year-old facility adds 13,200-volt delivery for large loads in Larkinville and the First Ward and marks the first of around a dozen planned Buffalo substation projects. IN BRIEFKEY TAKEAWAYSFAQs National Grid has completed a $32 million modernization of … Read the full press release →

EBRD Launches Comprehensive SME Support Programme in Benin to Expand Access to Finance, Advisory Services and Private-Sector Growth Opportunities

(IN BRIEF) The European Bank for Reconstruction and Development has launched a comprehensive SME support package in Benin, combining advisory services, financing instruments and specialised programmes to strengthen private-sector growth. More than 100 representatives from SMEs, mid-cap companies, banks, business … Read the full press release →

“Deutschlandfahrt” 2026 Begins at Mercedes-Benz Wörth During 130-Year Truck Anniversary

(IN BRIEF) Mercedes-Benz Trucks has opened the “Deutschlandfahrt” 2026 at its Wörth plant as part of its “130 years of trucks” anniversary year, celebrating the legacy of commercial vehicle development since Gottlieb Daimler created the world’s first truck 130 years … Read the full press release →

Romanian Businesses to Gain New Financing Through EIB and BRD Sogelease Partnership

(IN BRIEF) The European Investment Bank is lending €100 million to BRD Sogelease IFN SA, the leasing subsidiary of BRD Groupe Société Générale, to expand financing for SMEs and Mid-Caps in Romania. The credit line will support business expansion, productivity … Read the full press release →

ArcelorMittal Releases Special Podcast Episode on Its Creation, Growth and Future

(IN BRIEF) ArcelorMittal has released a special edition of its Steel Talks podcast to mark the company’s 20th anniversary. The episode features Executive Chairman Lakshmi Mittal, CEO Aditya Mittal and journalist and author Tim Bouquet, whose 2008 book Cold Steel … Read the full press release →

KfW Study Finds Development Projects Can Create Investment Opportunities for German and European Companies

(IN BRIEF) A new study by KfW and the University of Göttingen finds that KfW development projects are associated with a higher probability of later private foreign direct investment from Germany and the EU. The analysis shows that the probability … Read the full press release →

Skanska Secures Major Downtown Cincinnati Hotel Development Contract for Portman Holdings Entity

(IN BRIEF) Skanska has won a USD 325 million contract to construct a 21-story Marriott convention center hotel in downtown Cincinnati, Ohio. The 700-room development will cover approximately 61,400 square metres and will stand opposite the First Financial Convention Center. … Read the full press release →

RWE’s Rabbit’s Foot Solar Project to Support Meta Clean Energy Goals and Deliver Bowie County Economic Benefits

(IN BRIEF) RWE and Meta have signed a new long-term corporate power purchase agreement for the 298 MWac Rabbit’s Foot Solar project in Bowie County, northeast Texas. The project began onsite construction earlier in 2026 and is expected to begin … Read the full press release →

ACS Group Strengthens Industry Position as Turner and FlatironDragados Earn Leading Places in ENR Contractor Rankings

(IN BRIEF) ACS Group companies Turner and FlatironDragados have been recognized in the latest Engineering News-Record industry rankings, highlighting their leadership in construction, transportation and infrastructure markets. Turner retained the number one overall position in the ENR Top 400 Contractors … Read the full press release →

Webuild Expands Digital Infrastructure Storytelling Following Strong Public Response to “Evolutio” Exhibition

(IN BRIEF) Webuild’s immersive “Evolutio” exhibition at Milan’s Leonardo da Vinci National Museum of Science and Technology attracted more than 36,000 visitors during its three-month run, demonstrating strong public interest in the historical and social role of infrastructure development in … Read the full press release →

EIB Group and Mediocredito Centrale Partner to Unlock Over €400 Million in Financing for Italian SMEs and Mid-Caps

(IN BRIEF) The EIB Group, comprising the European Investment Bank and the European Investment Fund, has partnered with Mediocredito Centrale Group to mobilize over €400 million in financing for SMEs and mid-cap companies in Italy. Through a securitisation transaction involving … Read the full press release →

European Investment Bank Partners with Latvia to Strengthen Innovation Ecosystem and Scale High-Growth Companies

(IN BRIEF) The European Investment Bank is partnering with Latvia’s Ministry of Economics and the Investment and Development Agency of Latvia to support the growth of high-potential and technology-driven businesses. Through this advisory initiative, the EIB will assess Latvia’s current … Read the full press release →

New EIF Backed Agreement Expands Financing Options for Croatian SMEs Through Introduction of Mini Bonds

(IN BRIEF) The European Investment Fund and Erste Bank Croatia have agreed to unlock up to €58 million in financing for Croatian SMEs by expanding EIF guarantees under the InvestEU Programme. The cooperation introduces mini-bonds as a new alternative financing … Read the full press release →

DEG Strengthens Financial Position and Global Development Role with EUR 2.9 Billion Business Volume in 2025

(IN BRIEF) DEG, part of KfW Group, reported a strong 2025 financial year with a total business volume of EUR 2.9 billion and significant development impact across emerging markets. Its portfolio supported around 3 million jobs and generated EUR 185 … Read the full press release →

Capitalia Secures InvestEU Guarantee to Deliver Accessible Loan Financing to Microenterprises Across Estonia Latvia and Lithuania

(IN BRIEF) Capitalia has partnered with the European Investment Fund to launch a €15 million financing initiative for microenterprises in Estonia, Latvia, and Lithuania, backed by the EU’s InvestEU programme. The scheme will offer crowdfunded loans of up to €50,000 … Read the full press release →

NIB Joins EIB EBRD and CEB in EastInvest Platform Supporting Investment in EU Eastern Border Areas

(IN BRIEF) Nordic Investment Bank has joined several major European financial institutions, including the European Investment Bank Group, the European Bank for Reconstruction and Development and the Council of Europe Development Bank, in signing a joint declaration supporting the EU’s … Read the full press release →

ArcelorMittal and Liberia Secure Long-Term Mining Partnership Supporting Multi-Billion-Dollar Infrastructure Investment

(IN BRIEF) ArcelorMittal and the Government of Liberia have ratified an amended Mineral Development Agreement extending the company’s mining concession to 2050, with an option for a further 25-year renewal, reinforcing Liberia’s role as a key mining hub in West … Read the full press release →

University of York partners with NatWest to establish accelerator hub and strengthen regional innovation

(IN BRIEF) The University of York has entered a major partnership with NatWest to advance regional entrepreneurship and economic growth, establishing a new NatWest Accelerator hub on campus where founders can develop skills, test ideas, and scale their businesses with … Read the full press release →

IFC and Crédit Agricole CIB partner on $2 billion risk transfer deal to boost trade finance in emerging markets

(IN BRIEF) The International Finance Corporation (IFC) and Crédit Agricole CIB have finalized a $2 billion Significant Risk Transfer (SRT) deal, backed by a $95 million financial guarantee from IFC, to unlock new trade finance commitments for emerging markets. The … Read the full press release →

Global Rail Leader Alstom Expands Plattsburgh Workforce with Full-Time Roles and Competitive Benefits

(IN BRIEF) Alstom is hiring nearly 120 new full-time employees at its Plattsburgh, NY manufacturing site to support production of 374 advanced commuter railcars for NJ TRANSIT. The company will hold a job fair on November 6, offering immediate interviews … Read the full press release →

Vossloh Secures €20 Million Contract to Supply Rail Fastening Systems for China’s New Xining–Chengdu High-Speed Line

(IN BRIEF) Vossloh AG has won a major contract worth nearly €20 million through its Chinese subsidiary, Vossloh Fastening Systems China Co. Ltd., to supply rail fastening systems for a new high-speed railway connecting Xining and Chengdu. Deliveries are scheduled … Read the full press release →

Nokia enhances Vietnam’s telecom capacity with new VNPT partnership focused on border and southern regions

(IN BRIEF) Nokia has extended its partnership with Vietnam Posts and Telecommunications Group (VNPT) through a new agreement to upgrade radio infrastructure in Hanoi, border provinces, and the southern region. The deployment of Nokia’s AirScale portfolio, powered by ReefShark System-on-Chip … Read the full press release →

EU-Backed EBRD Loans Boost Green and Competitive Growth for Moldova’s maib, Victoriabank, and Eximbank

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD), in partnership with the European Union, is extending €22.5 million in new loans to three Moldovan banks — maib, Victoriabank, and Eximbank — under the EU4Business-EBRD Credit Line to boost … Read the full press release →

First €150 Million Tranche of €350 Million EIB–HBOR Facility Targets Renewable and Sustainable Projects in Croatia

(IN BRIEF) The EIB has granted HBOR a €150 million loan—the first tranche of a €350 million agreement—to finance mid-caps and public-sector projects in Croatia. At least 30 percent of these funds will support green initiatives such as energy savings, … Read the full press release →

Wood to Lead Definitive Feasibility Study for Mongolia’s Khalzan Buregtei REE Project

(IN BRIEF) Wood has been selected by MNREC to lead the full feasibility study for the Khalzan Buregtei rare earth elements project, following a 2024 pre-feasibility review. The scope includes detailed design of the concentrator and refinery process plants. The … Read the full press release →

EBRD Provides €25 Million Loan to PBZ Leasing to Boost Green Investments by Croatian MSMEs

(IN BRIEF) The EBRD has provided a €25 million loan to PBZ Leasing for on-lending to Croatian MSMEs, dedicating at least 30 percent of the funds to green asset leases. This initiative advances the EBRD’s Green Economy Transition goals by … Read the full press release →

Natixis CIB Launches Fully Licensed Bank in Japan to Expand International Offerings

(IN BRIEF) On July 1, 2025, Natixis CIB will convert its Tokyo branch’s money-lending license into a full banking license, enabling a wider range of financial services in Japan. Since June 2022, the branch has focused on lending; the upgrade … Read the full press release →

Holcim Launches OLYMPUS Project in Greece, Advancing Europe’s Clean Industrial Deal with Carbon Capture Technology

(IN BRIEF) Holcim has officially launched the OLYMPUS project at its Milaki plant in Greece, aiming to produce 2 million tons of near-zero cement annually starting in 2029. With a EUR 400 million investment, the project is supported by a … Read the full press release →

EIF and BNP Paribas Leasing Solutions Sign Landmark €200 Million InvestEU Guarantee to Support SMEs in Sustainability Transition

(IN BRIEF) The EIF and BNP Paribas Leasing Solutions have signed a landmark agreement to provide a €200 million portfolio guarantee, aimed at enhancing access to business asset leasing solutions for SMEs and small mid-caps across France, Germany, Italy, and … Read the full press release →

ZÜBLIN Unveils Modern Administration Hub for Dresden with Sustainable Design

(IN BRIEF) The new Stadtforum Dresden, built by ZÜBLIN and Dreßler Bau GmbH for KID Kommunale Immobilien Dresden GmbH & Co. KG, has been unveiled as a modern administration center that brings together various municipal departments and offers workspaces for … Read the full press release →

Sweco Joins Elite Alliance to Revolutionize Estonia’s Rail Network

(IN BRIEF) Sweco has been selected as a key partner in the alliance spearheading the Rail Baltica project in Estonia, a major initiative aimed at overhauling the region’s railway network. This selection underscores Sweco’s role in providing high-level expertise in … Read the full press release →

EIB Group Boosts Sweden’s Green Transition with €1.9 Billion Financing in 2024

(IN BRIEF) In 2024, Sweden received approximately €1.9 billion in financing from the European Investment Bank (EIB) Group, with over 65% directed toward climate and sustainability initiatives. This funding supported key projects in renewable energy, infrastructure, and digitalization, including wind … Read the full press release →

EIB Group Contributes €2.2 Billion in Financing to Greece in 2024, Focusing on Energy, Business Growth, and Disaster Management

(IN BRIEF) In 2024, the European Investment Bank (EIB) Group provided €2.2 billion in financing to Greece, focusing on boosting energy resilience, supporting business growth, and enhancing disaster preparedness. Key projects included solar parks, grid upgrades, and disaster management infrastructure, … Read the full press release →

Construction Begins on Eastern Green Link 1, a Subsea Electricity Superhighway to Power Two Million Homes

(IN BRIEF) The Eastern Green Link 1 project, a joint venture between SP Energy Networks and National Grid Electricity Transmission, has begun construction on a subsea electricity cable that will provide green power to two million homes. This £2.5 billion … Read the full press release →

GEA Foundation Launched to Drive Global Impact in Education, Sustainability, and Disaster Relief

(IN BRIEF) GEA Group launched the GEA Foundation at an event in Berlin, aiming to strengthen the company’s community engagement by focusing on education, poverty alleviation, access to infrastructure, and disaster relief. The foundation builds on GEA’s commitment to donate … Read the full press release →

EIF Pledges €40 Million to SevenGen Growth Fund to Boost Sustainable Innovation and Impact

(IN BRIEF) The European Investment Fund has committed €40 million to the SevenGen Growth Fund, which focuses on scaling profitable companies in sustainability-related sectors. The fund will target businesses across the Benelux, Germany, and the Nordics that are poised for … Read the full press release →

Edison and Webuild Collaborate on Major Pumped Hydroelectric Projects to Enhance Italy’s Energy Security and Economic Development

(IN BRIEF) Edison and Webuild have joined forces to develop pumped hydroelectric projects in Southern Italy, focusing on sites in Pescopagano and Villarosa. These projects aim to generate 500 MW of pumped energy by 2030, supporting Italy’s energy security and … Read the full press release →

EIF and MDB Collaboration to Foster Economic Development and Job Creation in Malta

(IN BRIEF) The European Investment Fund (EIF), in collaboration with the Malta Development Bank (MDB), is set to provide guarantees totaling €20 million to support small and medium-sized enterprises (SMEs) and small mid-caps in Malta. These guarantees, backed by InvestEU, … Read the full press release →

EU Announces €902 Million Support Package for Jordan, Focusing on Education, Water Infrastructure, and Economic Development

(IN BRIEF) The President of the European Commission, Ursula von der Leyen, welcomed King Abdullah II of Jordan to Brussels and discussed recent regional developments. During the visit, the EU announced a substantial support package for Jordan worth €902 million, … Read the full press release →

EC, scientists, policy makers launch scientific clusters to support economic development in Danube Region

20-5-2013 — /europawire.eu/ — The European Commission and scientists and policy makers from the 14 Danube Region countries have today launched six scientific clusters to support economic development in the region. The six clusters will focus on: water; land & soil; … Read the full press release →