Release date: 26 February 2014
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S)Location
Description
Financing of part of the 2014-2020 budget of COST, the pan-European intergovernmental framework dedicated to networking activities for researchers in Europe.
Objectives
The objective of COST is to finance trans-national networks of nationally funded research activities to enable European researchers to jointly develop their own ideas and new initiatives across all scientific disciplines. The networking tools include meetings, short-term scientific missions, trainings schools, workshops and conferences.
Comments
The Risk Sharing Finance Facility (RSFF) is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 65 million
Total cost (Approximate amount)
EUR 300 million
Environmental aspects
The project’s operational RDI activities are mainly of intangible nature and do not fall under Annex I or II of the Directive 2011/92/EU. Full environmental details will be assessed during appraisal, including the promoter's procedures in place to ensure compliance with the relevant environmental regulations. Social impacts are expected to be positive, as they will derive from knowledge dissemination and training.
Procurement
COST Actions foresee the allocation of resources to the participants via open applications, with the objective of accomplishing the efficient allocation of its Horizon 2020 budget. The allocation process is supervised by DG RTD on the basis of a Grant Agreement. Accordingly, the procurement process is expected to comply with EU law and regulations. The process of evaluation and selection of application is also expected to meet the principles of open publication, transparency, equality and non-discrimination. Eligible beneficiaries could be research institutions (public, private), researchers and other professionals, as well as students.
The Bank will require the Promoter to ensure that contracts for the implementation of the project are tendered in accordance with the relevant applicable EU procurement legislation, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 15/12/2014
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).