Posts Tagged ‘EU’
European Commission representatives visit Latvia for European Semester consultations
From 20 to 22 January, European Commission consultations with public administration authorities and representatives of the non-governmental sector took place in Riga within the framework of the European Semester process.
The objective of these consultations is to enable colleagues from various Directorates-General to gain a better understanding of current developments in Latvia and to identify issues and topics that could be included in the European Commission’s 2026 Country Report and the country-specific recommendations for Latvia, which the Commission plans to publish in June and which will also be relevant in the context of further EU funds programming. During this visit, more than 20 European Commission representatives were in Latvia, the majority of whom were from the Reform and Investment Task Force (SG.REFORM) and the Directorate-General for Economic and Financial Affairs (ECFIN), which is responsible for the implementation of the Recovery and Resilience Facility in Latvia.
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Originally published on 23 Jan
Read MoreCybersafety in numbers Nordic-Baltic cyber consortium
Seven countries in the Nordic-Baltic region have agreed to pool their resources to stave off cyberattacks. Funded by the EU, hosted by Denmark, and with the participation of Estonia, Finland, Iceland, Latvia, Lithuania and Norway, the Nordic-Baltic Cyber Consortium will serve as a means for national cyber-security agencies in the seven countries to share information and to work together to develop new ways to counter cyberthreats.
The threat of cyberattack is not unique to the Baltic region, but the countries taking part in the consortium are among the most digitalised in the world, and thus particularly at risk. One strategy to protect themselves would be to take their foot off the pedal and move some services offline again, but that would mean losing many of the efficiency gains digitialisation has created, especially in the public sector. Doing so would also spoil plans to roll out artificial intelligence. By doubling down on digitalisation, they have decided that what makes them vulnerable is also what can make them stronger.
Read MoreNokia secures €870 million loan from EIB to drive Europe’s leadership in advanced mobile technologies
The EIB loan will support Nokia’s research and development in radio access networks, covering both hardware and software. These technologies are key to boosting the performance, energy efficiency and cybersecurity of mobile systems. They also lay the groundwork for integrating artificial intelligence in future 6G networks. The project helps retain high-skilled jobs and critical intellectual property within Europe.
“Nokia’s innovations in 5G and 6G are key to Europe’s digital future,” said EIB Vice-President Karl Nehammer. “By supporting this R&D programme, we are helping to secure strategic autonomy in next-generation network technologies and strengthen Europe’s competitiveness in a critical sector.”
Headquartered in Espoo, Nokia is a global leader in fixed, mobile and cloud network technologies, with operations in more than 130 countries and over 78,000 employees. The company invested €4.5 billion in R&D in 2024, representing 23% of its annual revenue.
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Originally published on 16 Dec
Read MorePower play The EU’s energy upgrade
The European Commission has released its set of proposals for helping EU members to move some of the union’s most important energy projects forward. The measures were first aired in September by Ursula von der Leyen, the commission’s president, as a way to speed up projects that can make Europe’s energy net more resilient and—consumers will like this—its power cheaper.
In addition to cutting paperwork, the European Grids Package and the Energy Highways initiative will increase the amount of funding Brussels is willing to make available to big energy projects five-fold, to €30 billion. Ms von der Leyen had already identified the Harmony Link, connecting the Baltic states to Poland, and Energy Island Bornholm, an energy project that could serve as blue-print for hugely ambitious energy projects, as two of her eight highways towards the union’s power needs. Yesterday, she put the pedal to the metal.
Read MoreLithuania secures €300 million EIB loan to boost defence on EU’s eastern border
In yet another major step to reinforce European security, the European Investment Bank (EIB) is providing €300 million to the Lithuanian government for investments in military infrastructure. The loan marks a strategic milestone in reinforcing the EU’s eastern border, where Lithuania plays a key role in NATO’s collective defence and rapid-response capabilities.
The financing will help Lithuania strengthen its defence capabilities through investments in key areas: harbour boats for piloting and towing, medical transport and equipment, and new infrastructure for residential, administrative, training, transport and logistics needs. The upgrades will support the Lithuanian Armed Forces and help meet North Atlantic Treaty Organization commitments.
The signed loan is part of a broader €500 million investment package approved by the EIB for this operation. It complements a €540 million loan approved earlier this year for the NATO military base in Rūdninkai, along with advisory support. Together, this brings EIB Group support for Lithuania’s defence to over €1 billion in 2025.
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Originally published on 7 Nov
Read MoreEIB Group opens office in Estonia to bolster strategic investments
The European Investment Bank (EIB) Group opened an office in Estonia today to drive strategic investments and sustainable growth in the country. The new office, located in the capital Tallinn, will focus on priority projects in areas including climate action, digitalisation, security and defence.
The EIB Group, which also includes the European Investment Fund (EIF), will use its presence in Tallinn to deepen cooperation with Estonian partners in the public and private sectors including small and medium-sized enterprises (SMEs).
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Originally published on 8 Apr
Read MoreEIB Group opens office in Latvia to support strategic investments
The European Investment Bank (EIB) Group opened an office in Latvia today to propel strategic investments and sustainable growth in the country. This office, located in the capital Riga, will focus on priority projects in areas including climate action, digitalisation, housing, security and defence.
The EIB Group, which also includes the European Investment Fund (EIF), will use its presence in Riga to deepen cooperation with Latvian partners in the public and private sectors including small and medium-sized enterprises (SMEs).
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Originally published on 7 Apr
Read MoreSweden: EIB supports plant protein factory, reducing the need for imports entering Europe
The European Investment Bank (EIB) has granted a €50 million loan to Lantmännen to co-finance the construction of a new pea protein isolate factory in Lidköping. The loan will cover approximately half of the project investment cost.
The first of its kind in Sweden, the factory will have an annual processing capacity of over 40 000 tonnes of peas grown by Lantmännen cooperative members. It is expected to be completed in the first half of 2027 and to create around 30 jobs in the region.
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Originally published on 3 Apr
Read MoreInvalda INVL Group raises the largest PE fund in the Baltics exceeding target at first close reaching EUR 305 million
Invalda INVL Group today announces that it has successfully completed a first closing of its second-generation private equity fund (“INVL Private Equity Fund II”), reaching EUR 305 million and exceeding its target of EUR 250 million. The INVL Private Equity Fund II has received strong backing from both existing and new investors, forming an exceptional investor base. This includes some of the most successful entrepreneurs from across the Baltics, family offices and institutional investors such as the European Investment Fund, pensions funds managed by Luminor asset management companies, SB Asset Management and IPAS INVL Asset Management in Latvia, as well as life insurance company UAB SB Draudimas. Fundraising will continue to reach a hard cap of EUR 400 million.
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Originally published on 17 Feb
Read MoreEU in talks to fund fleet to repair damaged subsea cables
The European Union is mulling a public-private initiative worth “hundreds of millions” of euros to buy ships that can promptly repair subsea cables in case of damage or sabotage, the bloc’s tech chief said.
“We are discussing now with member states what would be the amount that is needed,” Henna Virkkunen, the European Commission’s executive vice-president for technological sovereignty, security and democracy, said on the sidelines of the Munich Security Conference. “When it comes to security we see that there’s an urgent need for action.”
In recent months, there have been a string of incidents in the Baltic Sea in which telecommunication and power cables strung across the sea floor between countries were damaged by passing ships. While it is unclear whether these disruptions were accidental or intentional, they have spurred the EU to focus on its infrastructure’s resilience, including by ramping up the continent’s cable-repairing fleet.
Subsea cables carry internet and power connections across countries and continents and their loss can cause disruptions to digital services, including web access and payments, and force telecommunications providers to reroute traffic. More than 95% of global data traffic goes through subsea cables, according to the International Cable Protection Committee.
Source: Bloomberg
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