INFRASTRUCTURE FUNDS CO-INVESTMENT PROGRAM II

The operation consists in a Lending Envelope (Equity Type Operations) for EIB Group (EIB and EIF) co-investments in EU27 alongside climate and infrastructure funds where EIB or EIF are investors or have an existing track record with the fund managers.

The co-investment programme will allow EIB Group to co-invest in individual projects alongside funds in which EIB Group is already an investor or has an established track record. The main purpose of EIB Group's co-investment contribution is to bridge any funding gap arising when the financing needs of EU-based projects identified by a fund manager exceed the maximum amount that a fund can invest in a single project, typically for the larger projects targeted by infrastructure investment funds.

The co-investment programme will finance sub-projects of funds in which the EIB Group is an investor or with whom EIB Group has an established track record and which are compliant with EIB eligibility criteria, including environmental and social standards and applicable EU environmental directives.

The sub-projects may be public or private sector projects which are compliant with EIB eligibility criteria, including procurement standards and applicable EU directives. The funds' investment guidelines require the fund managers to ensure that procurement procedures applied by the underlying investments financed by the fund are in line with the provisions of the relevant Directives.