Luxembourg Space Agency, EIB Join Forces to Enhance Solutions for European Space for Finance

On Thursday 15 May 2025, the Luxembourg Space Agency (LSA) and the European Investment Bank (EIB) signed an agreement aimed at supporting the increased use of satellite data in the financial sector.

As reported by Luxembourg's Ministry of the Economy, the LSA and the EIB, the new research and development (R&D) pilot programme will be led by the LSA with the support of the EIB. The partnership aims to bolster European strategic autonomy of space data related to financial transactions.

On Thursday, the LSA and the EIB announced a collaboration to enhance the integration of European space applications in the financial sector, ultimately benefitting industries such as investment banking and insurance. Leveraging Europe's strengths in Earth Observation and navigation applications, the Space for Finance initiative aims to improve financial services' reporting and sustainability efforts through innovative satellite-based solutions. For example, satellites can regularly collect data about the environment and climate, helping companies track how their sites are performing, predict and manage risks, and easily compare results across different locations and businesses.

As part of this collaboration, the R&D pilot programme will explore the full potential of using satellite imagery and other space data for project monitoring and impact assessment using concrete pilot projects. This is expected to pave the way for launching a call for projects aimed at industry players.

EIB Vice President Robert de Groot stated: "Space is no longer just about exploration, it is increasingly about innovation that drives real-world solutions. Our partnership with the Luxembourg Space Agency allows us to use the power of satellite data to enhance financial monitoring and drive sustainable development. Together, we will explore and redefine how space applications can enhance the European strategic autonomy and support the financial sector in creating a more resilient and forward-thinking economy."

Through this collaboration, the EIB will reinforce its ongoing efforts to bolster the competitiveness of the European space sector, with a specific emphasis on Luxembourg's growing role in the commercial space arena. The LSA has been described as instrumental in promoting the space industry in Luxembourg, providing support to new and existing businesses, developing human resources and facilitating access to financial solutions. Working closely with financial intermediaries, such as the EIB, could accelerate the development of Space for Finance solutions, facilitating their market uptake.

Lex Delles, Luxembourg's Minister of the Economy, said: "The space sector drives innovation and economic growth in Luxembourg and across Europe, and it's also key to our security in a fast-changing world. By working with the European Investment Bank, we are showing our commitment to using space technologies to benefit society and the financial sector. This partnership reflects our goal to support innovation and ensure that space activities in Europe are sustainable, secure and competitive - for the good of everyone."

Moreover, this collaboration is said to underscore the importance of setting security standards and protocols for space data in the domain of finance. Both parties said they recognise that safeguarding the strategic autonomy of European financial transactions is crucial as they advance their efforts in utilising space for finance technologies.

The partnership is expected to facilitate the development of new services driven by satellite data. By working together, the EIB and the LSA aim to set new practices in the utilisation of space technologies, driving growth and ensuring that Europe continues to lead in the development of space applications for the financial sector.