LIMBURGS ENERGIE FONDS

The project provides a loan of up to EUR 30m to the Limburgs Energie Fonds (LEF), an evergreen financial instrument established and fully financed by the Dutch region of Limburg. The financing will leverage the region's investment capacity towards small and medium-sized enterprises (SMEs) and small projects in the critical sectors of carbon-saving renewable energy, energy efficiency and (marginally) circular economy and asbestos sanitation.

Carbon savings for the province of Limburg through renewable energy, energy efficiency and circular economy projects, waste treatment facilities and sustainable transport

Most of the projects to be financed by the fund are not expected to have a negative environmental impact. Some projects however may fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU, in which case the national competent authority determines whether the projects are subject to an EIA based on Annex III of the directive. During appraisal, the fund manager's environmental and social management capacity and due diligence procedures will be reviewed to ensure compliance with the Bank's standards and the principles of EU environmental directives (including the EIA Directive, Habitats Directive and Birds Directive, Water Framework Directive and Industrial Emissions Directive), as applicable.

The fund's investment guidelines will be required to ensure that procurement procedures applied by the promoters of the underlying investments financed by the fund are in line with the provisions of the relevant directives and the Bank's Guide to Procurement.