The European Commission and the European Investment Bank (EIB) have renewed their partnership under the Innovation Fund’s Project Development Assistance (PDA) programme, significantly expanding support for innovative decarbonisation projects across the EU. The renewed agreement, aligned with the EU’s Clean Industrial Deal, aims to boost the deployment of net-zero technologies and enhance the competitiveness of European industry.
The new phase of the PDA programme will run from 2025 to 2028, with the EIB providing technical and financial advisory services to up to 250 projects. This marks a substantial scale-up from the initial programme, which supported 62 projects—16 of which have since secured Innovation Fund grants, and several others attracted alternative funding or were recognised as EU projects of common interest.
To support this broader reach, the Commission has increased the budget for EIB Advisory services from €24 million to €90 million. The scope of the PDA has also expanded to cover additional sectors such as net-zero and low-carbon mobility—including maritime, rail, and road transport—as well as buildings, reflecting updates to the EU Emissions Trading System (EU ETS).
New key performance indicators (KPIs) have been introduced to ensure geographic and sectoral balance, with particular emphasis on small-scale and early-stage projects. This is intended to enhance the inclusivity and effectiveness of the programme in accelerating decarbonisation efforts.
In addition to supporting projects via Innovation Fund calls, the renewed PDA introduces an “open PDA” track. Under this model, project promoters can approach EIB Advisory directly for support. Eligible projects will be assessed for their maturity and potential, and assistance will be provided on a first-come, first-served basis to help improve their chances of securing future Innovation Fund backing.
Commissioner for Climate Action Wopke Hoekstra commented, “Through the Project Development Assistance provided by the Innovation Fund, the EIB is offering enhanced technical and financial support for promising decarbonisation projects. We are laying the groundwork for the innovative and competitive industrial base of the future.”
EIB Deputy Director General Christoph Kuhn added, “With the renewed PDA agreement, EIB Advisory is not only building on past success. It’s setting a new standard for how Europe can support its most innovative and transformative clean technologies.”
The expanded PDA is a key component of the EU’s strategy to reach climate neutrality, fostering innovation and resilience in Europe’s clean industrial base.
