Belgium – A memorandum of agreement was signed by the European Investment Bank (EIB) and the Walloon Region to make it simpler for them to collaborate on projects involving hydrogen.
These include Walloon initiatives that might be eligible for assistance, counsel, and funding from the EIB. Loans from the EIB typically cover up to 50% of a project’s costs. This agreement strengthens the existing solid relations between the EIB and Wallonia.
The Walloon ministers said that “hydrogen is a substantial resource for the energy transition and is a vital driver of medium and long-term climate policy.” When it comes to utilising the potential of hydrogen, Wallonia intends to play an important role in Europe. As a result, the region has looked for a number of initiatives and projects related to hydrogen, the majority of which are sponsored under its recovery plan.
Before signing the agreement with the EIB, Wallonia had helped the hydrogen industry by funding a number of projects.
Because they fall under the category of important projects of common European interest (IPCEI), which is why the Walloon Region partnered with the EIB, these projects have already received support from the Walloon Region under the recovery plan for Europe in the sum of €88 million. The funded initiatives will advertise Wallonia as a hydrogen centre in Europe and beyond.