Reference: 20150334
Release date: 11 May 2016

Promoter – Financial Intermediary

GREEN SHIPPING GUARANTEE PROGRAMME

Location

Description

The aim of the Green Shipping Guarantee (GSG) programme is to accelerate the implementation of investments in greener technologies by European shipping companies. The programme will be structured as a guarantee framework with financial institutions specialised in ship financing. In order to develop and demonstrate the concept, the programme will be launched with a pilot phase with selected partner institutions with identified pilot transactions.

Objectives

The greening of the transport sector is a key objective of the Trans-European Network policy.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 750 million

Total cost (Approximate amount)

EUR 3000 million

Environmental aspects

The Guarantee programme is intended to finance shipbuilding projects including new vessels, conversion and retrofitting of vessels that promote sustainable transport and environmental protection including Climate Action initiatives. Full assessment of the scope of each individual project will be performed during the corresponding appraisal. The ship owners/promoters are expected to be well established experienced operators of their vessels and are also expected to have the necessary competence to undertake the works proposed under the programme. They will also be expected to hold all relevant environmental certification for the construction of these types of vessels.

Procurement

Procurement issues will be assessed during each individual project appraisal. Each promoter, whether public or private, must demonstrate to the Bank that EU procurement procedures have been satisfactorily implemented for shipyard selection. The Bank will assess in particular whether open and fair selection tenders have been made with regard to shipyard selection and that no state aid or intellectual property right issues are outstanding with any of the selected yards.

Status

Approved - 16/06/2016

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

EU Countries Transport