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    Reference: 20150420
    Release date: 14 July 2015



    A group of collateral agreements supported by the Private Finance for Energy Efficiency (PF4EE) instrument.


    The PF4EE instrument aims to stimulate the supply of private debt financing to complement national energy efficiency support schemes and, through this leverage, to support the priorities set by Member States in their national energy efficiency action plans for the period 2014-2020.


    The collateral agreements are funded by the European Commission through the LIFE programme. The EIB will enter into collateral agreements with financial intermediaries on behalf of the European Commission.


    Proposed EIB finance (Approximate amount)

    EUR 54 million

    Total cost (Approximate amount)

    EUR 1000 million

    Environmental aspects

    This operation intends to bring environmental benefits by supporting projects that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed are small and are expected to have a very limited negative environmental impact. Given the scale, location and nature of the sub-projects an environmental impact assessment (EIA), as defined in the EIA Directive 2011/92/EU, is normally not required. The Bank will assess the capacity and procedures of the financial intermediaries to ensure compliance by the individual schemes with national and European environmental and biodiversity regulations as well as their capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access for the public to environmentally relevant information.


    The specific project pipelines proposed by the financial intermediaries will be assessed by the EIB; if the final beneficiaries are private companies not operating in the utilities sector and not having the status of a contracting entity, the projects will be considered as not being subject to EU rules on public procurement. However, if, after the project appraisal, the EIB were to conclude that the project pipeline is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the financial intermediary to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the EU Official Journal, as and where required.


    Signed - 5/08/2015


    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).

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