Übersicht
- Energie - Energieversorgung
- Verkehr - Verkehr und Lagerei
- Telekommunikation - Information und Kommunikation
The project involves an export finance pilot operation that provides a counter-guarantee envelope to the Czech Export Credit Agency, Export Guarantee and Insurance Corporation (EGAP) to support a portfolio of buyer’s credit transactions with sovereign and sub-sovereign obligors under NDICI (Neighbourhood, Development and International Cooperation Instrument) / EFSD + (European Fund for Sustainable Development Plus) mandate.
In line with its recently approved strategic reorientation, EIB Global seeks to enhance the EU export finance architecture by providing de-risking and liquidity solutions to EU Export Credit Agencies (ECAs) under its Pan European Trade and Investment Initiative. Supported by the European Commission (EC), EIB Global will use its existing mandates to pilot several export credit operations to design scalable financial instruments addressing both existing market failures and facilitating a cohesive and competitive EU export finance architecture in support of Global Gateway projects. The proposed EUR 500m guarantee envelope is EIB Global's first trade finance pilot operation counter-guaranteeing the Czech ECA's (EGAP) portfolio of (sub-)sovereign buyer's credit transactions under the NDICI/EFSD+ mandate. The first allocation will support the export of European manufactured rolling stock products while advancing sustainable mobility and promoting EU standards abroad under a Global Gateway aligned flagship project in the Central Asian Trans-Caspian Transport Corridor. This pilot product is being explored with other EU ECAs and is expected be rolled-out on a pan-European basis. The operation will strengthen EU manufacturing sectors and their supply chains by improving financing conditions for (sub-)sovereign investments tied to export contracts with European suppliers, in line with the EU Competitiveness Compass and the EIB's broadened objectives for industrial competitiveness under the Digital and Human Capital (IDHC) Public Policy Goal. It directly supports EU value added, enhances exporters' competitiveness, and reinforces Europe's industrial base through sustainable innovation and resilient supply chains while unlocking critical infrastructure projects in partner countries, contributing to SDGs 7, 8, 9, 11 and 13.
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower's / Financial Intermediary's capacity, systems and processes for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support will be assessed during the Due Diligence. Final beneficiaries will be required to comply with applicable national and EIB E&S standards in respect of environmental and social matters, as appropriate.
The Bank will require that the supported transactions are aligned with the requirements of EU regulation in the field of officially supported export credits and other relevant international standards, to the extent applicable.
The proposed operation including its sub-operations is expected to benefit from the European Commission's budgetary guarantee cover under the NDICI/EFSD+ mandate.