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The FEMIP Sustainable Energy facility aims at providing credit lines to local participating financial institutions in Jordan and Morocco to finance energy efficiency and small renewable energy investments in the industrial, SMEs, agribusiness, commercial services and residential sectors. This project will contribute to the reduction of greenhouse gas emissions and the enhancement of security of supply.
Improving access to term finance at favourable conditions.
The operation will focus on small-size projects with, in principle, limited environmental impacts. Depending on their technical characteristics the investments may be categorised as projects falling under Annex II of the EU Enviromental Impact Assessment (EIA) Directive, leaving it to local legislation or the competent authority to determine whether or not an EIA is required. It cannot be excluded at this stage that some of the schemes may require an EIA. In all cases where a formal EIA is required, a copy of the Environmental Impact Statement will be provided to the Bank, and published on its website (or that of another involved European financial institution) at the time of allocation. Public consultation will be conducted as required. These will be verified by the financial institution and reviewed by the Bank. The borrower will be required to verify that none of the schemes submitted for part-financing by the Bank have a significant negative impact on any site of nature conservation importance.
The facility is targeting SMEs and larger companies in the private sector; it is thus not expected to be subject to public procurement requirements. There could be cases (for example with renewable energy investments) where the sub-project could be enjoying special and exclusive rights in line with the procurement Directives, and in that case the technical consultants to the participating financial institutions will assess the need to follow public or private procurement principles. In any case, the Bank will require of the promoter and the financial institutions to ensure that the implementation of the projects will be done in accordance with the Bank's Guide to Procurement.
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.
This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.