The agreement allows EIB Advisory to further increase its impact on supporting innovative decarbonisation projects in line with the Clean Industrial Deal. Companies can now apply for project development assistance via the EIB Innovation Fund Project Development Assistance website. The renewed agreement for the Innovation Fund Project Development Assistance (PDA) is building on the success of the first Innovation Fund PDA programme.

The European Commission and the European Investment Bank (EIB) have signed an agreement renewing Project Development Assistance (PDA) under the Innovation Fund to increase technical and financial advisory support for innovative decarbonisation projects that are either not selected via the Fund or are preparing to apply. The renewed PDA agreement aligns with the EU’s Clean Industrial Deal, which aims to increase the deployment of net-zero technologies and boost the competitiveness of industries across the EU.

Under the renewed agreement, EIB Advisory will provide PDA to up to 250 projects between 2025 to 2028, offering broader sectoral coverage and a smooth application process. This builds on the initial Innovation Fund PDA programme, which supported 62 innovative projects - 16 of which have already secured Innovation Fund grants, seven more have received funding from national sources or other programmes; and one has been designated an EU project of common interest.