Bill Gates, along with representatives from the Bill & Melinda Gates Foundation and Breakthrough Energy, convened at the European Investment Bank (EIB) headquarters in Luxembourg to bolster collaboration on sustainable human development, innovation, health, and clean energy. Werner Hoyer, President of the EIB, emphasized the significance of such partnerships in advancing global health, food security, clean energy, and sustainable development.
A pivotal outcome of the visit was the signing of a memorandum of understanding between Breakthrough Energy and the EIB to expedite the transition to clean energy. This entails fostering cutting-edge research, mobilizing investment for innovation commercialization, and implementing the EU Catalyst partnership. The agreement extends the existing support, such as the EUR 50 million backing for Breakthrough Energy Ventures-Europe, aimed at replacing fossil fuel usage with new technologies. It also strengthens collaboration between the Breakthrough Energy Fellows Program and the EIB Institute, ensuring early-stage entrepreneurs receive the necessary resources to realize their technology’s potential.
Additionally, discussions centered on ongoing initiatives between the Bill & Melinda Gates Foundation and the EIB to address global health challenges like malaria and polio. The EIB highlighted its support for financial inclusion, gender equality, and agricultural financing through EIB Global, its dedicated development finance arm. These deliberations underscored the commitment to targeted investments for sustainable development and further solidified the partnership’s potential to drive positive change on a global scale.