Europe launches space finance taskforce.

The European Commission, the European Space Agency (ESA), and the European Investment Bank (EIB) have signed an agreement to help space companies in Europe access financing through various financial resources. The EIB currently invests in space through the Strategic European Security Initiative (SESI), but only a fifth of the funding has been earmarked for space projects. The tripartite agreement aims to streamline access to financing and support the growth of the European space ecosystem. The institutions will hold regular meetings to identify financing challenges and share information, and will provide financial advice to promising European space projects. The partnership comes after the launch of a 175 million euro equity fund for defense investments that could benefit space, as well as the space entrepreneurial initiative called Cassini, which includes a one billion euro fund. The goal is to strengthen Europe’s sovereign capabilities and catch up to other countries in the space industry.