EIB approves €700m financing for agriculture and bioeconomy
The European Investment Bank has announced the launch of a new financing initiative that aims to unlock close to €1.6 billion of investment in the agriculture and bioeconomy sector.
The EIB programme loan will amount to €700 million and is expected to back close to €1.6 billion of investment across Europe. It aims to support private companies operating throughout the value chains of production and processing of food, bio-based materials and bioenergy.
The lending programme - which will be guaranteed by the EU budget under the European Fund for Strategic Investments - will enable direct lending for private sector investments ranging from €15 million to €200 million, with the EIB loan amount ranging from €7.5 million to €50 million. Targeted investments will support environmental protection and natural resource efficiency, renewable energy, innovation, competitiveness, and energy efficiency.
