EIB explores financing projects in Canada — CBC World
The European Investment Bank is exploring the possibility of financing projects in Canada, including in the field of critical minerals. EIB President Nadia Calviño arrived in Canada for meetings with federal ministers amid Prime Minister Mark Carney’s course toward deepening ties with the European Union.
As CBC World reports, Calviño said that the bank has not been particularly active in Canada so far, but now is the right time to expand cooperation. The EIB is considering entering into a framework agreement that would allow it to invest in Canadian projects in critical minerals and other sectors.
Priority for new technologies
Responding to a question about possible investments in future oil pipelines and liquefied natural gas pipelines, the EIB president noted that the bank has strengthened its role as a climate bank. According to her, the EIB is more interested in new technologies and green energy production.
Calviño linked the possible cooperation to the strategic alliance and strategic cooperation discussed by Carney. She also emphasized the shared values of Canada and the EU.
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Canada’s plans regarding the EU
Earlier, speaking at the European Parliament, Mark Carney outlined his intention to ensure seamless digital trade in non-agricultural goods and services, cooperation on computing capacity and artificial intelligence security protocols, and to explore the possibility of an integrated financial services market.
European Commission President Ursula von der Leyen said that Canada could receive a path toward associated membership in the EU, although this term has no legal status. Canada’s designated ambassador to the EU, Jonathan Wilkinson, meanwhile ruled out direct Canadian contributions to the European Union budget.
Latvian member of the European Parliament Rihards Kols called closer ties between Canada and the EU a geopolitical necessity. Some European politicians surveyed by CBC supported deepening relations but warned against protracted negotiations over the formal format of the partnership.
