The EIB has worked with Israel since 1981. The Bank operates in Israel in line with the European Neighbourhood Policy (ENP) and other EU bilateral agreements.
The EIB has contributed to the development of Israel’s desalination programme by financing four public-private partnership (PPP) Sea Water Reverse Osmosis (SWRO) desalination plants, as well as the extension of an SWRO plant, via an EIB investment of €560 million. The newest plant, financed in 2020, is the largest desalination plant operating in the EU Southern Neighbourhood. Together, these plants provide 577 million cubic metres of water per year.
In April 2020, the EIB signed a collaboration with the Israel Innovation Authority and a €50 million financing agreement with Pluristem to develop therapies for COVID-19 and other unmet medical needs.
Through Innovfin Infectious Diseases, part of the Horizon 2020 programme, we also support Israel’s smart investments in basic research, an important catalyst for establishing globally leading industries in Europe. For example, in 2017, we invested in the development and production of BiondVax’s Universal Flu Vaccine Candidate designed to protect against current and future, seasonal and pandemic flu strains.
Another equity investment was made by the European Investment Fund (EIF), part of the EIB Group, in the ICV III fund to support seed and early stage companies promoting new technologies and business models.