European ministers expressed “broad support for the Action Plan” of the European Investment Bank (EIB), which aims to increase its involvement in the security and defence sectors, according to the current President of the Ecofin Council, Vincent Van Peteghem, in Luxembourg on Friday 12 April.
Recalling that this Action Plan is the response to discussions initiated at the ministerial meeting of the major European financial strategists at the end of February in Ghent (see EUROPE 13357/9), Mr Van Peteghem nevertheless said that, on certain aspects, discussions would continue within the European Union Bank until the annual meeting of its Board of Governors on Friday 21 June in Luxembourg.
The President of the EIB, Nadia Calviño, outlined the various measures in the Action Plan, which should enable the Bank to become more involved in defence, while safeguarding its financial reputation: - an update of the definition of dual-use technologies and infrastructures (e.g. drones, surveillance equipment, border controls), with the removal of the requirement that revenues from civilian use exceed 50%; - easier access for SMEs to EIB financing programmes, with the creation of specific credit lines; - the creation of a one-stop shop to accelerate and streamline investments with the €6 billion already earmarked for the Strategic European Security Initiative (SESI).
The one-stop shop could already be operational “in May”, while the entire Action Plan is expected to be up and running by June, confirmed Ms Calviño.
The Vice-President of the European Commission, Valdis Dombrovskis, indicated that his services had worked closely with the EIB on the question of the definition of dual-use goods. Of course, greater involvement by the Bank in the security and defence sectors will send “a positive message to the market”, he said. (Original version in French by Mathieu Bion)