Latest news with #EIB
Yahoo
4 days ago
- Business
- Yahoo
EIB to provide €400m loan for Stockholm metro expansion
The European Investment Bank (EIB) has announced that it will contribute approximately €400m ($455.5m) in additional financing for the expansion of the Stockholm metro in Sweden. The funding is allocated between two recipients, with the Region of Stockholm receiving Skr2.5bn ($262.9m), and the City of Stockholm to be granted Skr2bn (210.3m). The additional loan will bring EIB's total investment in the project to more than €1bn. The Stockholm metro expansion project includes the construction of three new sections, totalling 30km, with 20km of double-track tunnels and 18 new stations. This is among the largest metro expansion projects currently in progress in Europe and one of the largest infrastructure projects in Sweden, financed by the European Union. It also marks the largest investment the EIB has made in public transport within the country, according to the bank. It is anticipated that 130,500 housing units will be developed along these new metro lines. EIB vice-president Thomas Östros said: 'This investment boosts both sustainable mobility and regional development. By providing an additional loan, we are demonstrating our long-term commitment to climate-smart investments in Europe's growing cities. This project is an excellent example of how EU funding can benefit both people and the climate.' The project will be developed across the municipalities of Stockholm, Nacka, Solna, and Järfälla, aiming to provide sustainable and efficient public transport for the region's expanding population. Currently, 730,000 individuals utilise public transport in the county on a daily basis. City of Stockholm director general Fredrik Jurdell said: 'The EIB's continued commitment to this financial partnership reaffirms the importance of the metro expansion project for sustainable growth in the capital and the surrounding areas. The new metro meets the needs of future generations in terms of transport and mobility, but also with regard to housing, given that housing units will be built as part of the project.' Earlier this month, the EIB announced a financing package of €400m to facilitate the development of a new tramline in Helsinki, Finland. This initiative is designed to improve public transport connectivity to the eastern suburbs of Laajasalo, Korkeasaari, and Kalasatama. "EIB to provide €400m loan for Stockholm metro expansion" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
4 days ago
- Business
- Yahoo
TreeFrog Therapeutics Secures €30 Million From European Investment Bank (EIB) Marking a Significant Milestone in the Company's Journey to Accelerate the Field of Cell Therapy
€30 million financing with mix of dilutive and venture debt financing Funds to advance Parkinson's disease cell therapy program to the clinic and further develop their internal pipeline of cell therapies Deal benefits from guarantee under European Commission's Invest EU program BORDEAUX, France, May 27, 2025--(BUSINESS WIRE)--TreeFrog Therapeutics, a French biotech specializing in cell therapy has secured a €30 million financing from the European Investment Bank (EIB). The financing will support the advancement of their lead cell therapy program in Parkinson's Disease to the clinic. Funds will also be used to reinforce their internal pipeline in other disease areas with large unmet needs. Regenerative medicine holds immense potential to revolutionize healthcare to treat or cure some of the world's unmet needs in diseases of the major organs, such as the heart, lungs, pancreas and brain. Parkinson's disease is the second most common neurodegenerative disorder and the fastest growing with more than 10 million people worldwide suffering from the disease. Prevalence doubled in the last 25 years and is expected to double again before 2050. Current solutions treat symptoms only. The cell therapy in development at TreeFrog has the potential to be a best-in-class treatment due to its unique 3D format microtissues, developed from induced pluripotent cells (iPSC). The program is on track to be ready for a first-in-human trial in 2027. The €30 million financing will be available in 3 tranches of €10 million each, with TreeFrog benefiting from a new vehicle from the EIB, mixing dilutive financing, hence no principal repayment required for the initial two tranches and venture debt for the last tranche. The initial €10 million will be withdrawn during the second quarter of 2025. EIB's investment aligns with the InvestEU objective of fostering research, development and innovation. Ambroise Fayolle, vice-president of the EIB, said: "Regenerative medicine is a field that has growing importance as life expectancy rises and some diseases are still untreated. This EIB is keen to support young, dynamic European and French companies that focus on research, development and product innovation. Support from InvestEU is testimony of a wider European interest in TreeFrog's business model and new solutions for the health sector". Jaime Arango, Chief Finance Officer, TreeFrog Therapeutics, said: "We are delighted to receive this support from EIB which bolsters our cash visibility trajectory and enables us to bring our Parkinson's cell therapy to the clinic, while also reinforcing our internal pipeline of cell therapies in other disease areas." TreeFrog's success in attracting investment and partners to date is based on their proprietary technology platform, C-Stem™. This platform addresses some of the major challenges by producing high quality cells, efficiently, at commercial scale. C-Stem combines microfluidics and stem cell biology to mimic the natural environment for cells. The cells are encapsulated in alginate capsules seeded with iPSCs. These capsules protect the cells, allowing them to do what they do naturally – self-organise and grow. The protected cells are nurtured and nourished, expand exponentially and can be turned into any type of cell in large-scale bioreactors without damage and stress. This results in 3D microtissues that have unique benefits in terms of quality and functionality and integrate well after transplant. Background information About EIB The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the EU's long-term financing institution. Across eight major priorities, we support investments in climate action and the environment, digital transition and technological innovation, security and defense, cohesion, agriculture and the bioeconomy, social infrastructure, capital markets union, and a stronger Europe in a more peaceful and prosperous world. In 2024, the EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing in support of more than 900 projects in Europe and worldwide. In France, the EIB Group signed over a hundred operations in 2024 for a total amount of €12.6 billion. Nearly 60% of the EIB Group's annual financing supports projects contributing to climate change mitigation and adaptation, as well as the creation of a healthier environment. About TreeFrog Therapeutics TreeFrog Therapeutics is a French-based regenerative medicine biotech set to unlock access to cell therapies for millions of patients. TreeFrog is unique in its approach to cell therapy development, bringing together biophysicists, cell biologists and bioproduction engineers to address the challenges of the industry - producing and differentiating cells of quality at unprecedented scale, cost-effectively. To succeed in their mission of Cell Therapy for all, TreeFrog operates a business model that includes its own therapeutic programs and partnerships with leading biotech and industry players. Since 2021, the company has raised $82 million to advance a pipeline of stem cell-based therapies in regenerative medicine. View source version on Contacts Press contactsEIB Andrea Morawski, mobile: +352 691 284 349Website: - Press Office: press@ TreeFrog Therapeutics Rachel MooneyChief Communications Tel: +33 674063461
Yahoo
4 days ago
- Business
- Yahoo
TreeFrog Therapeutics Secures €30 Million From European Investment Bank (EIB) Marking a Significant Milestone in the Company's Journey to Accelerate the Field of Cell Therapy
€30 million financing with mix of dilutive and venture debt financing Funds to advance Parkinson's disease cell therapy program to the clinic and further develop their internal pipeline of cell therapies Deal benefits from guarantee under European Commission's Invest EU program BORDEAUX, France, May 27, 2025--(BUSINESS WIRE)--TreeFrog Therapeutics, a French biotech specializing in cell therapy has secured a €30 million financing from the European Investment Bank (EIB). The financing will support the advancement of their lead cell therapy program in Parkinson's Disease to the clinic. Funds will also be used to reinforce their internal pipeline in other disease areas with large unmet needs. Regenerative medicine holds immense potential to revolutionize healthcare to treat or cure some of the world's unmet needs in diseases of the major organs, such as the heart, lungs, pancreas and brain. Parkinson's disease is the second most common neurodegenerative disorder and the fastest growing with more than 10 million people worldwide suffering from the disease. Prevalence doubled in the last 25 years and is expected to double again before 2050. Current solutions treat symptoms only. The cell therapy in development at TreeFrog has the potential to be a best-in-class treatment due to its unique 3D format microtissues, developed from induced pluripotent cells (iPSC). The program is on track to be ready for a first-in-human trial in 2027. The €30 million financing will be available in 3 tranches of €10 million each, with TreeFrog benefiting from a new vehicle from the EIB, mixing dilutive financing, hence no principal repayment required for the initial two tranches and venture debt for the last tranche. The initial €10 million will be withdrawn during the second quarter of 2025. EIB's investment aligns with the InvestEU objective of fostering research, development and innovation. Ambroise Fayolle, vice-president of the EIB, said: "Regenerative medicine is a field that has growing importance as life expectancy rises and some diseases are still untreated. This EIB is keen to support young, dynamic European and French companies that focus on research, development and product innovation. Support from InvestEU is testimony of a wider European interest in TreeFrog's business model and new solutions for the health sector". Jaime Arango, Chief Finance Officer, TreeFrog Therapeutics, said: "We are delighted to receive this support from EIB which bolsters our cash visibility trajectory and enables us to bring our Parkinson's cell therapy to the clinic, while also reinforcing our internal pipeline of cell therapies in other disease areas." TreeFrog's success in attracting investment and partners to date is based on their proprietary technology platform, C-Stem™. This platform addresses some of the major challenges by producing high quality cells, efficiently, at commercial scale. C-Stem combines microfluidics and stem cell biology to mimic the natural environment for cells. The cells are encapsulated in alginate capsules seeded with iPSCs. These capsules protect the cells, allowing them to do what they do naturally – self-organise and grow. The protected cells are nurtured and nourished, expand exponentially and can be turned into any type of cell in large-scale bioreactors without damage and stress. This results in 3D microtissues that have unique benefits in terms of quality and functionality and integrate well after transplant. Background information About EIB The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the EU's long-term financing institution. Across eight major priorities, we support investments in climate action and the environment, digital transition and technological innovation, security and defense, cohesion, agriculture and the bioeconomy, social infrastructure, capital markets union, and a stronger Europe in a more peaceful and prosperous world. In 2024, the EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing in support of more than 900 projects in Europe and worldwide. In France, the EIB Group signed over a hundred operations in 2024 for a total amount of €12.6 billion. Nearly 60% of the EIB Group's annual financing supports projects contributing to climate change mitigation and adaptation, as well as the creation of a healthier environment. About TreeFrog Therapeutics TreeFrog Therapeutics is a French-based regenerative medicine biotech set to unlock access to cell therapies for millions of patients. TreeFrog is unique in its approach to cell therapy development, bringing together biophysicists, cell biologists and bioproduction engineers to address the challenges of the industry - producing and differentiating cells of quality at unprecedented scale, cost-effectively. To succeed in their mission of Cell Therapy for all, TreeFrog operates a business model that includes its own therapeutic programs and partnerships with leading biotech and industry players. Since 2021, the company has raised $82 million to advance a pipeline of stem cell-based therapies in regenerative medicine. View source version on Contacts Press contactsEIB Andrea Morawski, mobile: +352 691 284 349Website: - Press Office: press@ TreeFrog Therapeutics Rachel MooneyChief Communications Tel: +33 674063461 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Ya Biladi
5 days ago
- Business
- Ya Biladi
EIB grants €70 million to ONEE to strengthen Morocco's water infrastructure
The European Investment Bank (EIB) announced on Monday, May 26, that it has signed a €70 million financing agreement with Morocco's National Office of Electricity and Potable Water (ONEE) to modernize water infrastructure across the kingdom, particularly in small and medium-sized cities and rural areas. The loan, supported by European Union guarantees, will fund equipment modernization, network loss reduction, and energy efficiency improvements in water facilities. The project addresses mounting water stress caused by rising temperatures, increased drought episodes, and growing consumption demands, reads a press release. The financing supports ONEE's 2025-2030 Equipment Plan and contributes to reconstruction efforts following infrastructure damage from the September 2023 earthquake. The initiative aligns with Morocco's National Water Supply and Irrigation Program (PNAEPI, 2020-2027) and EU-Morocco partnership objectives for green transition. EIB Vice-President Ioannis Tsakiris emphasized the bank's commitment to supporting Morocco's sustainable water solutions, while EU Ambassador Patricia Llombart Cussac highlighted the partnership's 20-year collaboration, noting €22 billion in EU and member state investments in Moroccan reforms and infrastructure. ONEE Director General Tarik Hamane stated that the project will secure reliable water access for populations while optimizing conventional water resource allocation amid increased drought frequency.
Morocco World
5 days ago
- Business
- Morocco World
EIB Injects €70 Million to Boost Morocco's Drinking Water Infrastructure
Doha – The European Investment Bank (EIB) has signed a €70 million financing contract with Morocco's National Office of Electricity and Drinking Water (ONEE). The funds will strengthen drinking water infrastructure across the country, particularly in small and medium-sized cities and rural areas facing increasing pressure on water resources. The financing, supported by the European Union through its guarantee mechanism, will help implement ONEE's 2025-2030 Equipment Plan. It focuses on high-impact local investments to modernize, secure, and optimize drinking water production and transportation systems in multiple regions. 'Ensuring sustainable access to drinking water is a vital priority, especially for territories most exposed to climate change effects,' said EIB Vice President Ioannis Tsakiris. 'This new financing demonstrates the EIB's commitment to supporting Morocco in implementing sustainable, local, and resilient solutions.' The project addresses Morocco's growing water stress, exacerbated by rising temperatures, increased drought frequency, and higher consumption. It aims to modernize equipment, reduce network losses, improve energy efficiency, and secure drinking water supply to vulnerable territories. The funding will also support reconstruction of hydraulic infrastructure damaged by the September 2023 earthquake, strengthening water supply system resilience in affected areas. EU Ambassador Patricia Llombart Cussac stated that 'the signing of this new financing contract responds to one of modern Morocco's priorities and demonstrates a strong, structured partnership between the European Union and Morocco. For over 20 years, we have worked together to address this common challenge.' For his part, ONEE Director General Tarik Hamane stressed Morocco's efforts under royal guidance to secure the country's drinking water supply. 'Through this financing, ONEE, as the state's armed wing in the drinking water sector, will continue its deployment to guarantee secure and reliable access to drinking water for populations,' he articulated. On May 12, King Mohammed VI reviewed Morocco's water management recovery plan during a ministerial council in Rabat. Agriculture Minister Ahmed Bouari reported that recent rainfall, particularly in March, had a 'very positive impact' on cereal production, autumn and spring crops, fruit trees, and vegetation cover. Water Minister Nizar Baraka reported that Morocco's average dam filling rate currently stands at 40.3%, allowing the mobilization of 6.7 billion cubic meters of water. This amount equals one and a half years of potable water consumption nationwide, significantly improving the country's water security outlook. This operation aligns with the EIB's Climate Roadmap 2021–2025 and contributes directly to sustainable development goals, particularly clean water and climate action. The initiative also supports the National Drinking Water Supply and Irrigation Program (PNAEPI, 2020–2027), advancing Morocco's climate adaptation priorities and reinforcing EU commitments under the Green Partnership for a resilient and sustainable economy. Last week, ONEE secured €300 million from European partners to modernize and extend Morocco's national electricity grid across 731 kilometers, encompassing €170 million from the EIB itself. The expansion aims to better integrate renewable energy sources and increase transmission capacity by 1,850 megavolt-amperes. On May 19, Morocco signed a landmark $14 billion agreement with the United Arab Emirates to transform its water and energy infrastructure by 2030. The megadeal includes a 1,400-kilometer high-voltage transmission corridor and four desalination facilities capable of producing 900 million cubic meters of water annually. Spain has also committed €340 million toward the construction of Africa's largest desalination plant in Casablanca. The €620 million facility will provide 300 million cubic meters of water annually for over seven million residents in the metropolitan region. Read also: African Development Bank: Morocco Sets Water Engineering Standard for Africa
