The European Investment Bank (EIB) has embarked on a groundbreaking collaboration with Wallonia, Belgium's southern region, to propel its space industry to new heights.

On December 18, the EIB signed a Memorandum of Understanding (MoU) with Belgian government officials, marking the first-ever partnership between Europe's lending arm and a regional entity within the European Union. The agreement underscores a concerted effort to enhance Earth observation and reusable launch vehicle activities, particularly within Skywin, Wallonia's aerospace cluster. Over the next two years, the EIB will explore funding and advisory avenues crucial for Wallonia's space sector transformation, including identifying co-financing opportunities for local government initiatives aimed at nurturing the burgeoning space industry.

This initiative follows the recent approval of financing by the Walloon government for various projects aimed at strengthening the region's space capabilities.

These projects include the development of double-sided solar panels for Earth observation microsatellites and advanced intelligent actuation systems for reusable launch vehicles. 

In the past two decades, Wallonia's space industry has witnessed remarkable growth, with a threefold increase in turnover to approximately 350 million euros ($384 million).

Skywin, the region's aerospace cluster, now boasts nearly 50 active companies, research centers, and academic institutions. Willy Borsus, Vice President of Wallonia, considers the EIB MoU as a significant milestone in the region's space sector advancement. Borsus emphasizes the crucial role of substantial investment in nurturing the space economy, envisioning Wallonia's ascent to a leadership position within Europe's space sector.

Beyond the space industry, the EIB's commitment to Belgium extends to various projects in 2022, totaling approximately 2.3 billion euros.

These projects span digital connectivity, healthcare, and education sectors, reflecting the bank's broader agenda to enhance Europe's competitiveness globally. The collaboration between the EIB and Wallonia comes amid broader efforts within the European Union to bolster the defense of space assets. European Union leaders recently endorsed a unified strategy aimed at heightening awareness of space threats and fortifying capabilities to mitigate them, signaling a concerted push to safeguard Europe's interests in space.