“If we remove this barrier … we can increase our ability to invest without any impact on Europe’s taxpayers,” Calvino said during an event in Brussels on Monday.
One EU diplomat, who was granted anonymity to speak freely, said the EIB’s involvement “makes the whole thing (EU spending) more market-oriented.” Unlike grants paid out by national governments, the EIB only hands out money to firms that are expected to make profits and repay their loans.
Calvino on Monday ruled out raising more capital, which would normally require cash calls to member country governments, which are shareholders of the EIB.
It is no coincidence that the bank’s readiness to step up investment comes as capital has signaled less willingness to inject more money into the bloc’s €1.2 trillion cash pot.
“We need to connect with Europeans [Investment] “It would be very natural if the bank had more close cooperation,” EU Budget Commissioner Johannes Hahn said during a media briefing on Monday.
The EU Executive will put forward a formal proposal for a new budget in the summer of 2025, which must be approved unanimously by governments before the end of 2027.