€3 billion of EIB Group financing for farmers and bioeconomy

European Investment Bank (EIB) Group President Nadia Calviño has announced a €3 billion financing package for agriculture, forestry and fisheries across Europe along with moves to bolster farm insurance. The EIB Group loans will be matched by other participating financial institutions, unlocking close to €8.4 billion of long-term investments for the bioeconomy sector.
The support marks the largest EIB-backed financing initiative for European agriculture and will be directed towards small and medium-sized enterprises (SMEs) as well as mid-caps. It will be spread over the next three years, with the first loans due to be signed in the first half of 2025.

A share of the loans will be earmarked for young or new farmers because they generally have more trouble obtaining traditional bank financing. The support will also target female farmers to overcome a gender imbalance in agriculture as well as green investments to help farmers make the green transition a success, in support of  the European Union's sustainability goals.