The European Investment Bank (EIB) has signed a €500 million loan agreement with Swedish engineering group Sandvik, a global leader in equipment, services and digital solutions for the mining, manufacturing and infrastructure industries, to support the company’s 2026–2029 research and development.
The investment programme focuses on developing new cutting technologies, tooling systems, battery-electric mining equipment, and next-generation solutions for digitalised and automated mining and rock excavation. The programme will take place mainly in Sweden, Finland and Germany.
“Europe’s industrial competitiveness depends on sustained investment in innovation and advanced manufacturing,” said EIB Vice-President Karl Nehammer, responsible for operations in Sweden and Finland. “Sandvik is a global technology leader, and this financing will help accelerate the development of automated, digital and sustainable industrial solutions that strengthen Europe’s strategic autonomy.”
The EIB has a long-standing relationship with Sandvik, having financed four previous research and development programmes since 1999.
“We have a strong strategic focus on developing solutions that enhance productivity, safety and sustainability for our customers,” said Sandvik Chief Executive Officer Stefan Widing. “The EIB financing supports our long-term research and development initiatives and provides flexibility to our overall funding strategy.”
The new financing is aligned with several of the EIB Group’s core strategic priorities, including the Innovation, Digital & Human Capital (IDHC) policy priority, the Strategic TechEU programme for digital and technological innovation, and the Critical Raw Materials (CRM) strategic initiative. The project also contributes to cross-cutting objectives in cohesion, environmental sustainability and climate action.
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States.
