EIB Boosts European Security with €450M Loan to Thales
The European Investment Bank (EIB) has made a significant move in bolstering European security and defence capabilities. It has granted a €450 million loan to Thales, a global leader in defence, aerospace, and cybersecurity technologies. This loan is part of the EIB's strategic priorities for 2024-2027, aiming to allocate 3.5% of its total financing to security and defence projects.
Thales, with over 83,000 employees in 68 countries, will use the loan to advance research and development in aeronautics and radar technologies. The project aims to enhance flight safety and efficiency, and modernize radar equipment. This is not the only security and defence-related project the EIB has under review. It currently has a portfolio of 80 such projects.
The loan is also part of the EIB's TechEU programme, which fosters innovation and new technology development. Thales, investing over €4 billion annually in R&D, will focus on areas like Artificial Intelligence, cybersecurity, quantum technologies, and cloud technologies. Notably, this is the EIB's first corporate loan to France's security and defence sector.
The EIB's loan to Thales is expected to have a significant impact on the European security and defence industry. It not only supports the development of cutting-edge technologies but also aligns with the EU's strategic priorities. This investment underscores the EIB's commitment to financing projects that contribute to EU policy objectives.
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