Release date: 19 October 2016
Promoter – Financial Intermediary
Finance in Motion GmbHLocation
Description
Participation in a debt fund targeting energy efficiency and renewable energy projects in southern-eastern Europe (Albania, Bosnia Herzegovina, Croatia, Kosovo*, Macedonia, Montenegro, Serbia) and Turkey, in the Eastern European Neighbourhood region (Armenia, Azerbaijan, Georgia, Ukraine and Moldova) and in the Southern European Neighbourhood region (Egypt, Jordan, Lebanon, Morocco, Tunisia and the Palestinian Territories)
Objectives
The fund's mission is to contribute, in the form of a public-private partnership with a layered risk-return structure, to enhancing energy efficiency and renewable energy in the targeted regions.
Comments
*This designation is without prejudice to positions on status, and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
- Industry - Manufacturing
- Industry - Construction
- Services - Wholesale and retail trade; repair of motor vehicles and motorcycles
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
Most of the current and expected projects do not fall under the Environmental Impact Assessment (EIA) Directive 85/337/EC, as amended, meaning the projects would not be subject to an EIA. If an underlying investment were subject to an EIA, the fund manager would be required to obtain the non-technical summary of it, and where relevant written confirmation from the competent authority that the investment would not have any significant negative impact on sites of nature conservation.
Procurement
The fund's investment guidelines will be required to ensure that procurement procedures applied by the underlying investments financed by the fund are in line with the provisions of the relevant directives and EIB requirements, as applicable.
Status
Signed - 18/07/2018
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).