The European Investment Bank (EIB) committed €3 billion ($3.42 billion) in financing to Airbus to support research and development in Europe's aerospace sector, the bank said Monday.

The package, described as the largest corporate financing envelope ever approved by the EIB, aims to strengthen Europe's industrial base, technological sovereignty and competitiveness in aerospace innovation.

The first €1 billion loan under the package was signed in Brussels to support Airbus’ investments in advanced technologies and integrated systems for commercial aviation, as well as security and defense systems.

EIB President Nadia Calvino said the package demonstrates Europe's ability to act "with speed and at scale" to support its industrial champions and strengthen its position in a changing geopolitical environment.

The financing will support Airbus' research and development projects through 2030 in France, Germany and Spain.

Airbus Chief Financial Officer Thomas Toepfer said the financing would support the company's commercial and defense research while helping sustain long-term investment in aerospace innovation.

The EIB said the package offers long maturities and flexible terms to provide predictable financing for major industrial programs under its TechEU initiative, which aims to accelerate investment in critical technologies and strengthen the EU's industrial competitiveness.

Airbus is one of Europe’s leading aerospace companies, operating in commercial aircraft, helicopters, defense, security and space systems. (AA)

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