This evaluation focuses on the use of the Framework Loan instrument used by the EIB to contribute to investment programmes of national, regional and local authorities. The use of this instrument within the EU27 has grown from less than 1% of Bank operations (signatures) in the mid-nineties to a level consistently over 10% since 2002. It peaked in 2010 with nearly EUR 11bn in signatures, i.e. 17% of total signatures that year. It was therefore considered timely to evaluate how this particular type of financial product is performing.
An earlier version of this evaluation was published on the internet in March 2013. In the meantime, a new procedure has been introduced which requires EIB Management to provide a Management Response to each evaluation report, which was retroactively applied to this evaluation. This updated version includes the Management Response for this evaluation.