| Project Detail |
The operation, an EIBs counter-guarantee to EIFs retained Senior Tranche under the InvestEU Climate Mitigation Portfolio, will enable the EIF to meet excess demand under its InvestEU Sustainability Guarantee product. The EIFs InvestEU Sustainability Guarantee product will support exclusively (100%) sub-projects eligible under the Climate Action & Environmental Sustainability (CA&ES) criteria undertaken by small and medium sized enterprises (SMEs), small mid-caps, natural persons and housing associations across the EU, Norway, and potentially, Iceland.
Objectives
The primary policy objective is to enhance access to finance for the target beneficiaries, with a strong cohesion component expected to be realised upon deployment. Additionally, the aim is to contribute to the EIBs core strategic positioning as the Climate Bank, by only supporting sub-projects eligible under CA&ES. Given its Energy Efficiency and Renewable Energy (RE) components, the EIB-EIF joint SME sustainability guarantee will contribute both to the EIBs priority to support green investments by small businesses, an area of strategic interest for the EIB Group, and to the RePowerEU objectives. Finally, by introducing housing associations and natural persons as eligible financial beneficiaries, the operation is expected also to have an important signalling effect with respect to the viability of long-term debt financing products supporting smaller-scale eligible green investments in the residential housing sector.
Sector(s)
Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 630 million
Total cost (Approximate amount)
EUR 2450 million |
