Release date: 26 April 2010
Promoter – Financial Intermediary
SOCREDO
Location
Description
Credit line to SOCREDO for financing projects in the environmental, renewable energy (hydropower, solar, wave, etc.) and waste treatment sectors in French Polynesia.
Objectives
The credit line will provide long-term funding for projects in the aforementioned sectors. This operation is in line with the Bank’s renewable energy financing objectives and the Commission’s strategy for the Pacific Islands, which is based on a “blue-green” central theme focusing on the environment and renewable energy.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 5 million.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
SOCREDO undertakes to propose to the EIB a list of environmental projects that are likely to be suitable for financing through this credit line. It will submit to the EIB the necessary environmental approvals, which may be based on estimates of the project's environmental impact. The EIB reserves the right to request additional analyses to ensure that the projects financed comply with the Bank's environmental guidelines.
Procurement
SOCREDO will ensure that the procurement procedures comply with the EIB's guidelines and the European Union regulations applicable in French Polynesia.
Status
Signed - 9/07/2010
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).