The President of the European Investment Bank (EIB), Nadia Calviño, warned of the need for acceleration to maintain Europe's competitiveness with China and the US in the advanced technology sector. For this purpose, the Spanish economist must secure billions of dollars. This is reported by UNN with reference to El País.
Details
The European Investment Bank (EIB) announced its intention to mobilize significant funds in the coming years for the development of high technologies on the continent.
European Investment Bank President Nadia Calviño warned of the need to accelerate the unification of all European countries to maintain their voice in a turbulent global context marked by the war in Ukraine, the invasion of Gaza, and the trade war initiated by Donald Trump.
Accordingly, in order not to lose technological advantage over the US, where technological giants such as Google, Amazon, Apple, and Facebook are concentrated, as well as manufacturing advantage over China, where the production of goods consumed in the rest of the world is concentrated, a financial resource for advanced projects should be formed.
As part of this, the European Bank is preparing 250 billion euros for technological innovations by 2027.
The program's goal is to create 1,000 European giants that will join the 3,000 already existing in areas such as artificial intelligence, defense, military infrastructure, raw materials, and the transition to a "green" economy.
In addition, Calviño announced on October 21 that the Climate Bank had approved a doubling of adaptation financing due to climate change challenges. The plan envisages 30 billion euros by 2030.
The EIB and the European Commission have also prepared 17.5 billion euros to promote energy efficiency for small and medium-sized enterprises. But a single access center for the financial mechanism has yet to be created.
Recall
China is actively implementing 6G, setting technological standards. The US and Europe, even in the spring of 2025, were not in a hurry with 6G development, however, slow 5G deployment was observed.
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