ESA, EIB seal commitment to boost European space investment

Soyuz launchers have flown from French Guiana since 2011; as in Russia, they are assembled horizontally and erected after rollout to the launch pad (ESA/S. Corvaja)

10 July 2018

The European Investmennt Bank – the EU’s financial investment arm – and the European Space Agency have agreed to jointly support increased investment in the European space sector in a bid to “create a level playing field for European companies to grow and become globally competitive”. A statement of intent signed today by the two organisations recognises the “growing importance of commercialisation at every level of the space value-added chain” and formalises “their shared goal of and intention to promote a seamless chain of investments in space for Europe” including by “raising awareness among investors of the potential of space as a driver for innovation and growth and supporting actors in the space sector that have promising short- or medium-term growth perspectives”.

EIB vice president Ambroise Fayolle said he was “very pleased to enhance a fruitful collaboration with ESA” and underscored the bank’s “focus on innovation and skills, including in the space sector, access to finance for smaller businesses, infrastructure, and climate change”.

EIB support for space projects since 2000 has totalled €5.4bn, including €225m towards development of the Alphasat telecommunications satellite programme and €120m to bring the Soyuz medium-weight launcher to Europe’s spaceport in French Guiana.