Signature(s)
Summary sheet
The Global Energy Efficiency and Renewable Energy Fund (GEEREF) invests in Regional Funds, which in turn invest in target projects and companies dedicated primarily to energy efficiency and renewable energy to support access to clean energy in developing countries and economies in transition. Geographical focus is Sub-Saharan Africa; East and South Asia as well as the Pacific; non-EU Eastern Europe, Russia and Central Asia; Latin America and the Caribbean; Middle East and North Africa.
The proposed operation will contribute to environmental sustainability, and in particular to tackling climate change, the main objective of the Global Climate Change Mandate (CCM). The operation concerns the financing of renewable energy, energy efficiency and other climate change mitigation investments located in developing countries, in line with EU and EIB priority objectives for combating climate change and thus for promoting sustainable, competitive and secure energy supplies.
Details of the projects and Regional Funds’ environmental due diligence procedures will be reviewed during appraisal, in particular the procedures for ensuring compliance with the principles of the EU Environmental Directives. The legal documentation to be entered into by the Bank will include a reasonable endeavours obligation on the Fund Advisor to ensure that the Regional Funds and the portfolio companies are in compliance with the Bank’s environmental and social principles and standards. If an underlying investment is subject to an Environmental Impact Assessment (EIA), the Fund Advisor will be required to obtain the non-technical summary of it, and where relevant written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.
The Bank will require the Fund Advisor to ensure that implementation of the underlying projects will be done in accordance with the Bank’s Guide to Procurement. Most of the project promoters are expected to be private companies for which the Fund Manager will have to verify during appraisal whether they have received any special or exclusive rights in particular for what concerns the hydro schemes concessions and verify that the provisions of the guide are respected.
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).
Documents
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
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