The European Investment Bank (EIB) has approved a €500 million loan to Sandvik to accelerate research and development in advanced mining, machining, and digital technologies between 2026 and 2029. The investment will support innovations in cutting technologies, tooling systems, battery-electric mining equipment, and automated and digitalised solutions for mining and rock excavation. Most of the programme will be carried out in Sweden, Finland, and Germany.
EIB Vice-President Karl Nehammer said the financing strengthens Europe’s industrial competitiveness by supporting advanced manufacturing and technological innovation. Sandvik CEO Stefan Widing noted that the funding will reinforce the company’s long-term strategy to develop solutions that enhance productivity, safety, and sustainability across industries. The EIB and Sandvik have collaborated on multiple R&D programmes since 1999, highlighting a longstanding partnership.
This investment aligns with several key EU priorities, including the Innovation, Digital & Human Capital (IDHC) policy, the Strategic TechEU programme, and the Critical Raw Materials initiative. It also contributes to broader sustainability and climate objectives, reinforcing Europe’s strategic autonomy in critical industrial sectors.
The EIB—owned by the EU’s Member States—finances projects that advance Europe’s long-term policy goals, including climate action, digitalisation, energy security, social infrastructure, and competitiveness. In 2024, the EIB Group provided nearly €89 billion in financing for more than 900 projects, with almost 60% supporting environmental and climate-related goals. The institution is also a major player in strengthening Europe’s critical raw materials supply chain, aiming to invest €2 billion annually across the value chain to support EU sustainability and security objectives.
