European Investment Bank should play key role to boost confidence in green investments, Calviño says

The new head of the European Investment Bank told Euronews on Thursday that the institution should support farmers.

Transcript

00:00 The president of the European Investment Bank has warned that the green transition might

00:06 be at risk due to lack of private investment. Nadia Calvino, a former Spanish economic minister

00:13 who took the role at the beginning of January, said the EU institution will help to build

00:18 trust among investors for green hydrogen or battery factory projects.

00:26 In the slowdown of economic activity and with higher interest rates, it is clear that companies

00:32 have to think twice about undertaking some of the necessary investments. There is very

00:37 high uncertainty, geopolitical tension that's also limiting the appetite, the risk appetite

00:43 of corporations and that is why the EIB has an important role in de-risking investments.

00:49 Farmers have been protesting across several EU countries in recent weeks. One of their

00:54 demands was to simplify the EU's green deal. Calvino believes that the bank can help farmers

01:00 and citizens alike in coming to terms with the green transition.

01:05 We need to support the agricultural sector in undertaking the necessary investments.

01:10 We need to support heavy industry to make these adjustments. We need citizens to have

01:15 access to affordable green technologies. If we want the process to be a success, there

01:21 are challenges but there are also opportunities.

01:25 According to the European Investment Bank, the number of companies investing in energy

01:30 efficiency is sharply increasing. The bank will also play a key role in Ukraine's reconstruction.

01:37 It has already invested 2 billion euros in the war-torn country.

01:41 [WHOOSH]