Investment Facility - Annual Report 2008
The European Investment Bank (EIB) supports the European Union’s (EU) cooperation and development policies in the African, Caribbean and Pacific States. Currently, the EIB operates in these regions under the ACP-EC Partnership Agreement signed in June 2000 in Cotonou, Benin, for a period of twenty years, and revised in 2005. The Agreement between the ACP States and the European Community and its Member States is based on various instruments to reduce poverty in the ACPs.
In addition to the Investment Facility, the EIB can lend up to a further EUR 2 000m from its own resources (OR) in the ACP countries over the period 2008-2013. Operations carried out under the Bank’s own resources are covered by a specific guarantee from EU Member States.
In parallel, following a Decision by the European Council, a similar Investment Facility was set up for the OCTs in November 2001.
The EIB is authorised to lend up to a further EUR 30m from its own resources in the OCTs.