The European Investment Bank on Monday authorized a €3 billion ($3.42 billion) loan to Airbus, the largest corporate loan ever approved by the institution, as European Union policymakers seek to build out the bloc’s technological capabilities and reduce reliance on the United States and China.
The financing package will support Airbus’s planned investments through 2030 in commercial aviation, security and defense, the EIB said. An initial €1 billion tranche was signed at a ceremony in Brussels on Monday, with projects planned at Airbus facilities in France, Germany and Spain. The bank said the loan was the largest it has ever authorized.
“The EIB Group is deploying its full firepower to bolster Europe’s technological autonomy, industrial strength and economic competitiveness,” Nadia Calviño, the EIB’s president, said in a statement.
The EIB, which is jointly owned by the European Union’s 27 member states, has recently increased its support for the defense and technology sectors, the bank said. The loan is expected to support work on next-generation manufacturing, connected aerospace systems and technologies aimed at reducing aviation emissions. The financing comes as European policymakers push to bolster the bloc’s technological sovereignty and reduce strategic dependencies amid growing geopolitical tensions and increased defense spending.