Desertec: European Investment Bank's new mandate for lending outside the EU

The legislation on European Investment Bank (EIB) lending outside the EU on the basis of an EU budgetary guarantee covers the period 2007-13. On top of an existing financial envelope of 25.8 billion euro, the new mandate provides for an extra EUR 2 billion of lending for climate action and an extra EUR 1.7 billion of lending for the EU’s pre-accession, neighbourhood and partner countries, of which EUR 1bn for Southern Mediterranean countries undertaking political reforms. Cambodia, Iceland, Iraq and Libya are added to the list of countries eligible to receive EIB loans under the mandate. Among the novelties of the new mandate is the introduction of high-level objectives for financing across all eligible countries, namely: local private sector development, including support for small and medium-sized enterprises (SMEs); social and economic infrastructure; climate change mitigation and adaptation ...Zum vollständigen Artikel

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