The European Commission and the European Investment Bank (EIB) have signed today an agreement renewing the Project Development Assistance (PDA) under the Innovation Fund. The agreement will increase technical and financial advisory support for innovative decarbonization projects that are either not selected via the Fund or are preparing to apply. With this expanded scope, the Commission has more than tripled the budget available for EIB Advisory and this new PDA phase from €24 million to €90 million.
Fully aligned with the objectives of the Clean Industrial Deal to increase net-zero technologies and boosts EU’s competitiveness, the renewed agreement will provide Project Development Assistance to up to 250 projects between 2025 to 2028. It will offer a smooth application process and a broader sectoral coverage, including to new sectors as net-zero and low-carbon mobility (maritime, rail and road transport) and buildings.
This builds on the initial Innovation Fund PDA programme, which supported 62 innovative projects: 16 of which have already secured Innovation Fund grants, seven more have received funding from national sources or other programmes; and one has been designated an EU project of common interest.
More information on the Commission-EIB signed PDA agreement online.
