EIB supports the strengthening of the European semiconductor industry with a €600 million loan to STMicroelectronics
Italy and France: the EIB supports the strengthening of the European semiconductor industry with a loan of 600 million euros to STMicroelectronics
A loan to finance research and development (R&D) and new innovative production lines of a world leader in semiconductors
This support is in line with the policy of the European Union and its Member States to strengthen the semiconductor industry in Europe
Funding that also contributes to the strategic objectives of European technological sovereignty in the semiconductor industry
Paris, March 2, 2022 – The European Investment Bank (EIB) is providing significant financial support to STMicroelectronics: a €600 million loan for the semiconductor group’s research and development (R&D) and pre-industrialization activities in Europe.
The operation concerns investments in R&D activities for innovative technologies and components, as well as in pilot production lines for advanced semiconductors. These investments will be implemented in existing STMicroelectronics facilities in Italy (Agrate and Catania) and France (Crolles). They will contribute to the development of technologies and products to meet the major challenges of environmental transition and digital transformation in all sectors.
The global semiconductor market is currently worth more than €500 billion and is expected to double by 2030. Europe accounts for around 10% of global production capacity, a sharp drop from previous decades (24% in 2000 and 44% in 1990).
The EIB’s support to STMicroelectronics actively contributes to the policies put in place at European level in coordination with the Member States, in order to strengthen the semiconductor industry in Europe, in research and development, design and production and to provide public funding for strategic industrial projects. The objective is to support the competitiveness of European players in this key sector, as it concerns all industrial sectors, in particular those in which European manufacturers occupy leading positions.
Bruno Le Maire, French Minister of Economy, Finance and Recoverynoted: “There will be no political sovereignty without digital sovereignty. Europe must use all the tools at its disposal to invest in new technologies. The EIBthe role of is crucial, when it grants 600 € million-dollar loan to STMicroelectronics. Our objective is clear: to accelerate the production of semiconductors in France and Italy. Only by mastering this technology can we safeguard the strategic independence of the European Union. These investments contribute more broadly to supporting our new growth model, which creates high value-added industrial jobs in our countries.
Daniele Franco, Italian Minister of Economy and Financenoted: “The semiconductor industry is fundamental for the digital transition of the economies of the European Union. The support that the EIB provides STMicroelectronics, one of the most advanced and innovative companies in the world, represents an important step towards strengthening and competitiveness of the European semiconductor industry, with a significant impact on jobs and growth .
Jean Marc CheryPresident and CEO of STMicroelectronics, noted: “This new loan from the EIB, with which we have been working in partnership for many years, complements the various existing instruments to support our industry, such as major projects of common European interest (PIIEC) and others assembly by the European Commission and the Member States. It is essential to work in Europe across the entire value chain: R&D, design and manufacturing, in collaboration with the various European ecosystems. ST will contribute to the goal of 20% of global production in Europe by 2030 and will continue to develop and manufacture in Europe innovative technologies and products to support the environmental transition and the digital transformation of all industries.”
EIB Vice-President Gelsomina Vigliotti, noted: “Semiconductors are the key components without which no digital and ecological transition is possible. Through the long-standing relationship between the EIB and ST, which has resulted in eight financing operations since 1994 worth more than €3.15 billion, the EIB supports self-reliance, competitiveness and Europe’s technological sovereignty.”
EIB Vice-President Ambrose Fayolle, noted: “Financing innovation, a key factor in European competitiveness and technological sovereignty, is a priority for the EIB. This loan of 600 million euros to support the R&D efforts of one of the European leaders in semiconductors illustrates Europe’s commitment to this crucial sector for the future of our economies and our strategic autonomy..”
STMicroelectronics is one of the world’s leading semiconductor companies, with a strong European R&D and manufacturing footprint. Since 1994, the EIB has been able to support ST through seven operations for a total amount of more than 3.15 billion euros. An independent device manufacturer mastering the semiconductor supply chain with state-of-the-art manufacturing facilities, ST employs more than 48,000 people working with more than 200,000 customers and partners to enable smarter mobility, more efficient power and energy management, and the large-scale deployment of the Internet of Things and 5G technology. ST is committed to becoming carbon neutral by 2027. More information is available at www.st.com.
European Investment Bank
The EIB, whose shareholders are the 27 Member States of the European Union, is the Union’s long-term financing institution. It finances quality investments which contribute to the achievement of the political objectives of the European Union. In 2021, the EIB provided more than €3 billion in Italy and France for projects dedicated to innovation and digital transformation.
Christophe Alix, [email protected], tel. : +352 43 79 84303, mobile: +33 6 11 81 30 99
Lorenzo Squintani, [email protected], tel. : +352 4379-82528, mobile: +352 691 285 772
Website: www.eib.org/press – Press service: +352 4379 21000 – [email protected]
Office of Bruno Le Maire: [email protected], +33 1 53 18 41 13
Ministry of Economy and Finance: [email protected], +39 06 47614605