1. About the EIB........................................................................................................................................

3
1.1. Introduction.....................................................................................................................................3
1.2. Mission statement...........................................................................................................................3
1.3. EIB Group.......................................................................................................................................4
1.4. Strategy & b!ecti"es.....................................................................................................................4
1.#. $artners............................................................................................................................................#
2. %he structure o& the EIB.........................................................................................................................'
2.1. Shareho(ders....................................................................................................................................'
2.2. Go"ernance.....................................................................................................................................)
2.2.1. %he Board o& Go"ernors..........................................................................................................)
2.2.2. %he Board o& *irectors............................................................................................................+
2.2.3. %he Management ,ommittee...................................................................................................+
2.2.4 %he Audit ,ommittee................................................................................................................-
2.3. rgani.ation Structure....................................................................................................................-
3. $roducts and Ser"ices..........................................................................................................................1/
3.1. 0oans.............................................................................................................................................1/
3.1.1 Indi"idua( 0oans.....................................................................................................................1/
3.1.2. Intermediated 0oans...............................................................................................................11
3.1.3. Specia( Instruments................................................................................................................12
3.1.3.1. Structured 1inance 1aci(ity.................................................................................................12
3.1.3.2. 2is3 Sharing 1inance 1aci(ity 42S115................................................................................12
3.1.4. 6I*S 1und Energy E&&iciency 1aci(ity..................................................................................1#
3.2. %echnica( Assistance.....................................................................................................................1)
3.3. Guarantees.....................................................................................................................................1+
4. $ro!ects.................................................................................................................................................1+
4.1. Geographic 2egions......................................................................................................................1+
4.1.1. En(argement ,ountries...........................................................................................................1-
4.1.2. 1aci(ity &or Euro7Mediterranean In"estment and $artnership 41EMI$5................................1-
4.1.3. 2ussia & Eastern 8eighbourhood..........................................................................................1-
4.1.4. A&rican9 ,aribbean and $aci&ic 4A,$5...................................................................................2/
4.1.#. Asia and 0atin America 4A0A5..............................................................................................2/
4.2. %opics............................................................................................................................................21
4.3. $ro!ect ,yc(e.................................................................................................................................22
4.3.1. App(ying &or a (oan................................................................................................................22
4.3.2. Appraisa(................................................................................................................................23
4.3.3. $rocurement...........................................................................................................................24
4.3.4. Monitoring.............................................................................................................................24
#. $ro!ects 1inanced.................................................................................................................................2#
'. 1inancing programs o& the EIB in 2omania........................................................................................2'
'.1. Some pro!ects to be &inanced .......................................................................................................2)
). 2e&erences ...........................................................................................................................................2-
1. About the EIB
1.1. Introduction
%he European In"estment Ban3 :as created by the %reaty o& 2ome in 1-#+ as the long-term lending
bank of the European Union.
%he task of the Bank is to contribute to:ards the integration9 ba(anced de"e(opment and economic and
socia( cohesion o& the E; Member States.
%he EIB raises substantia( "o(umes o& &unds on the capital markets :hich it (ends on &a"orab(e terms
to pro!ects furthering EU policy objectives. %he EIB continuous(y adapts its acti"ity to de"e(opments
in E; po(icies.
%he EIB<
= en!oys its o:n (ega( persona(ity and &inancia( autonomy :ithin the E;
= operates in 3eeping :ith strict ban3ing practice and in c(ose co((aboration :ith the :ider
ban3ing community9 both :hen borro:ing on the capita( mar3ets and :hen &inancing capita(
pro!ects.
1.2. ission statement
EIB>s mission is to &urther the ob!ecti"es o& the European ;nion by ma3ing (ong7term &inance a"ai(ab(e
&or sound in"estment.
Is at the service of the Union.
%he European In"estment Ban3 :as created by the %reaty o& 2ome? the shareho(ders are the Member
States and the Board o& Go"ernors is composed o& the 1inance Ministers o& these States.
!rovides service and value-added"
= through the appraisal and follo#-up of investment projects and programs.
%o recei"e EIB>s support9 pro!ects and programs must be "iab(e in &our &undamenta( areas<
economic9 technica(9 en"ironmenta( and &inancia(.
= through financing
%hrough the (ending operations and the abi(ity to attract other &inancing9 EIB>s goa( is to :iden
the range o& &unding possibi(ities. %hrough their borro:ing acti"ities9 they contribute to the
de"e(opment o& capita( mar3ets throughout the ;nion.
$ffers first-class terms and conditions.
%he &inancia( soundness deri"es &rom the strength and commitment o& the shareho(ders9 the
independence o& their pro&essiona( !udgments and their record o& achie"ement. It enab(es borro:ing at
the &inest terms9 :hich EIB passes on in its (ending conditions.
%orks in partnership #ith others
EIB>s po(icies are estab(ished in c(ose coordination :ith the Member States and the other Institutions
o& the European ;nion. It a(so cooperates c(ose(y :ith the business and ban3ing sectors and the main
internationa( organi.ations in this &ie(d.
&ttracts 'ualified and multi-lingual staff from all the ember (tates.
EIB>s sta&& is moti"ated by the direct participation in the construction o& Europe.
1.). EIB *roup
%he EIB Group consists o& the European In"estment Ban3 and the European In"estment 1und 4EI15.
%he EIB is o:ned by the E; Member States. %he EI1 has se"era( shareho(ders9 the EIB being the
ma!ority shareho(der<
= EIB< '2@
= European ,ommission< 3/@
= ther European 1inancing Institutions< +@
%he princip(e area o& cooperation bet:een the EIB and the EI1 is in support o& sma(( and medium7si.ed
enterprises 4SMEs5. %heir re(ationship encourages a producti"e sharing o& eApertise in support o&
SMEs.
%he EIB pro"ides (ong term (oans to (arge capita( in"estment pro!ects. In addition9 the Ban3 promotes
SMEs through<
= Medium and (ong7term credit (ines to intermediaries in the ban3ing sector
= Benture capita( acti"ities in 1EMI$ and A,$
%he EI1 concentrates on<
= In"estment in inno"ati"e SMEs in the E; and En(argement area though "enture capita( &unds
= SME guarantee operations in"o("ing o:n resources or those o& the E; budget
1.+. (trategy , $bjectives
%he operationa( strategy o& the Ban3 is<
= %o &inance "iab(e capita( pro!ects :hich &urther E; ob!ecti"es
= %o borro: on the capita( mar3ets to &inance these pro!ects
%ithin the EU the EIB has ' priority ob!ecti"es &or its lending activity :hich are set out in the Ban3>s
business p(an9 the ,orporate perationa( $(an 4,$5.
= ,ohesion and ,on"ergence
= Support &or sma(( and medium7si.ed enterprises 4SMEs5
= En"ironmenta( sustainabi(ity
= Imp(ementation o& the Inno"ation 2/1/ Initiati"e 4i2i5
= *e"e(opment o& %rans7European 8et:or3s o& transport and energy 4%E8s5
= Sustainab(e9 competiti"e and secure energy
%he ,$ is appro"ed by the Board o& *irectors and de&ines medium7term po(icy and operationa(
priorities &or ob!ecti"es gi"en to the Ban3 by its Go"ernors. It is a(so an instrument e"a(uating the EIBCs
acti"ities. %his ro((ing p(an spans three years9 :ith the strategic pro!ections adapted annua((y to ta3e
account o& ne: mandates and changes in the economic c(imate.
$utside the EU EIB (ending is based on E; eAterna( cooperation and de"e(opment po(icies.
E; Mandates are<
= $re7Accession<
,andidate and $otentia( ,andidate countries in the En(argement region
= European 8eighborhood<
Mediterranean 8eighborhood
2ussia and Eastern 8eighbors
= *e"e(opment<
A&rica9 $aci&ic and ,aribbean 4A,$5
2epub(ic o& South A&rica
= Economic ,ooperation<
Asia and 0atin America 4A0A5
0ending under these mandates &ocuses on<
= $ri"ate sector de"e(opment
= In&rastructure de"e(opment
= Security o& energy supp(y
= En"ironmenta( sustainabi(ity
1.-. !artners
As both a Ban3 and an institution o& the E;9 the EIB dedicates considerab(e resources to bui(ding
partnerships aimed at impro"ing the responsi"eness o& the Ban3>s operations.
EU Institutions
%he EIB maintains c(ose :or3ing ties :ith the other members o& the &ami(y o& E; institutions in
pursuit o& the ,ommunityCs ob!ecti"es9 most important(y<
= &ostering European integration and the ba(anced de"e(opment o& the ;nion
= supporting the ;nionCs de"e(opment aid and cooperation po(icies to:ards some 14/ countries
throughout the :or(d.
Such cooperation enab(es the Ban3 to coordinate its operations :ith those o& the other institutions9
:hi(e preser"ing its independence and its o:n decision7ma3ing procedures as pro"ided &or in the
European %reaties.
Banking .ommunity
%he EIB en!oys a c(ose partnership :ith hundreds o& ban3s and &inancia( institutions across the E;
Member States and countries in :hich the Ban3 has a mandate to operate.
Such re(ationships combine the EIB>s &inancia( strength :ith the speci&ic 3no:7ho: o& the ban3ing
sector.
Ad"antages o& partnerships :ith the ban3ing community inc(ude<
= A((o:ing the EIB to optimise its acti"ity on the capita( mar3ets by ensuring that its bonds are
success&u((y p(aced and traded on the secondary mar3et :ith the he(p o& specia(ist ban3s
= Assisting the &inancing o& (arge7sca(e pro!ects through the estab(ishment o& sound &inancing
pac3ages tai(ored to pro!ect reDuirements9 in the &orm o& either co7&inancing or intermediated (oans
= Ensuring that the bene&its o& the credit (ines set up by the Ban3 &or &inancing sma((7sca(e
"entures are passed on to (oca( authorities and sma(( and medium7si.ed enterprises4SMEs5
ultilateral /evelopment Banks
Mu(ti(atera( de"e(opment ban3s9 or M*Bs9 are supranationa( institutions set up by so"ereign states9
:hich are their shareho(ders.
Among the best 3no:n are <
= the Eor(d Ban3
= the European In"estment Ban3
= the 8ordic In"estment Ban3
as :e(( as regiona( de"e(opment ban3s such as <
= the European Ban3 &or 2econstruction and *e"e(opment
= the Inter7American *e"e(opment Ban3
= the A&rican *e"e(opment Ban3
= the Asian *e"e(opment Ban3 .
,ooperation bet:een the EIB and M*Bs ta3es the &orm o& both eAchanges o& in&ormation on their
respecti"e priorities and action p(ans and !oint pro!ect appraisa( missions. ,o7&inancing decisions
re(ating to a gro:ing number o& pro!ects gi"e practica( eApression to these cooperati"e ties.
0ast(y9 the EIB participates in the annua( genera( meetings o& other mu(ti(atera( ban3s9 notab(y the
Eor(d Ban3 and the EB2*. It is a(so a shareho(der in the (atter9 a(ongside the European ;nion.
2. The structure of the EIB
2.1. (hareholders
%he shareho(ders o& the European In"estment Ban3 are the 2) Member States o& the European ;nion.
Each Member StateCs share in the Ban3Cs capita( is ca(cu(ated in accordance :ith its economic :eight
:ithin the European ;nion 4eApressed in G*$5 at the time o& its accession.
In tota(9 the Ban3Cs subscribed capita( amounts to more than 1'4.+ bi((ion.
%he E; Member States are &u((y e(igib(e &or Ban3 &inancing operations9 :ithout any geographica( or
sectora( Duotas being app(ied.
;nder its Statute9 the Ban3 may ha"e maAimum (oans outstanding eDui"a(ent to t:o and ha(& times its
capita(. It there&ore commands a so(id base &or &u(&i((ing its remits.
2.2. *overnance
2.2.1. The Board of Governors
%he Board o& Go"ernors consists o& Ministers designated by each o& the 2) Member States9 usua((y
1inance Ministers. It (ays do:n credit po(icy guide(ines9 appro"es the annua( accounts and ba(ance
sheet9 and decides on the Ban3Cs participation in &inancing operations outside the European ;nion as
:e(( as on capita( increases. It appoints the members o& the Board o& *irectors9 the Management
,ommittee and the Audit ,ommittee.
Mr. %ommaso $A*A7S,FI$$A9Ita(y 7,hairman
Mr. Baru!an BSGA8IA89 2omania
2.2.2. The Board of Directors
%he Board o& *irectors has so(e po:er to ta3e decisions in respect o& (oans9 guarantees and borro:ings.
As :e(( as seeing that the Ban3 is proper(y run9 it ensures that the Ban3 is managed in 3eeping :ith the
pro"isions o& the %reaty and the Statute and :ith the genera( directi"es (aid do:n by the Go"ernors. Its
members are appointed by the Go"ernors &or a rene:ab(e period o& &i"e years &o((o:ing nomination by
the Member States and are responsib(e so(e(y to the Ban3.
%he Board o& *irectors consists o& 2+ *irectors9 :ith one *irector nominated by each Member State
and one by the European ,ommission. %here are 1+ A(ternates9 meaning that some o& these positions
:i(( be shared by groupings o& States.
1urthermore9 in order to broaden the Board o& *irectorsC pro&essiona( eApertise in certain &ie(ds9 the
Board :i(( be ab(e to co7opt a maAimum o& ' eAperts 43 *irectors and 3 A(ternates59 :ho :i((
participate in the Board meetings in an ad"isory capacity9 :ithout "oting rights.
%he $resident o& the Management ,ommittee or9 in his absence9 one o& the Bice7$residents9 sha((
preside o"er meetings o& the Board o& *irectors but sha(( not "ote.
Since 1 May 2//49 decisions ha"e been ta3en by a ma!ority consisting o& at (east one third o& members
entit(ed to "ote and representing at (east #/@ o& the subscribed capita(.
As the Board o& the *irectors is non7resident9 members do not recei"e remuneration &rom the Ban3. 1or
each meeting day o& the Board 4norma((y ten per year5 in :hich they participate Members and
A(ternates o& the Board o& *irectors recei"e an indemnity o& E;2 '//. In addition the Ban3 pays a per
diem o& E;2 2// as a (ump7sum reimbursement &or hote( and re(ated eApenses to be co"ered by
indi"idua( Board Members and reimburses tra"e( eApenses.
2.2.3. The Management Committee
%he Management ,ommittee is the Ban3Cs permanent co((egiate eAecuti"e body. It has nine members.
;nder the authority o& the $resident and the super"ision o& the Board o& *irectors9 it o"ersees day7to7
day running o& the EIB9 prepares decisions &or *irectors and ensures that these are imp(emented. %he
$resident chairs the meetings o& the Board o& *irectors. %he members o& the Management ,ommittee
are responsib(e so(e(y to the Ban3? they are appointed by the Board o& Go"ernors9 on a proposa( &rom
the Board o& *irectors9 &or a rene:ab(e period o& siA years.
Since the beginning o& the Ban3Cs acti"ities9 the emo(uments o& the members o& the Management
,ommittee 4$resident and Bice7$residents o& the EIB5 ha"e been mode((ed on those o& the $resident
and Bice7$residents o& the European ,ommission respecti"e(y. As decided by the Board o& Go"ernors9
socia( bene&its &or members o& the Management ,ommittee &o((o: the same princip(es o& ana(ogy as
app(ied to ,ommissioners? as a resu(t9 certain bene&its are the same as &or the Sta&& o& the Ban39
especia((y as regards medica( insurance.

$hi(ippe MAGS%A*%7 $resident
2.2. The Audit Committee
%he Audit ,ommittee is an independent body ans:erab(e direct(y to the Board o& Go"ernors and
responsib(e &or "eri&ying that the operations o& the Ban3 ha"e been conducted and its boo3s 3ept in a
proper manner. It reports to the Board o& Go"ernors and9 at the time o& appro"a( by the Go"ernors o&
the Annua( 2eport o& the Board o& *irectors9 issues a statement on the audits carried out. %he Audit
,ommittee is composed o& three members and three obser"ers9 appointed by the Go"ernors &or a term
o& o&&ice o& three years.
As the Audit ,ommittee is non7resident9 members do not recei"e a remuneration &rom the Ban3. 1or
each meeting day o& the ,ommittee 4norma((y ten per year5 in :hich they participate Members and
bser"ers o& the Audit ,ommittee recei"e an indemnity o& E;2 1/#/. In addition the Ban3 pays a per
diem o& E;2 2// as a (ump7sum reimbursement &or hote( and re(ated eApenses to be co"ered by
indi"idua( ,ommittee Members and reimburses tra"e( eApenses.

Mauri.io *A00,,FI7 ,hairman
2.). $rgani0ation (tructure
%he Ban3Cs departments<
= e"a(uate9 appraise and &inance pro!ects9
= raise resources on the capita( mar3ets and manage the treasury9
= assess and manage ris3s attaching to EIB operations9
= carry out necessary economic or &inancia( bac3ground studies.
Eor3ing in mu(tidiscip(inary teams9 they prepare and imp(ement the decisions o& the Ban3Cs
management.
%he EIBCs organi.ation structure consists o& the &o((o:ing *irectorates and *epartments<
= Genera( Secretariat9 0ega( A&&airs and Fuman 2esources
= Strategy and ,orporate ,entre
= *irectorate &or perations in the European ;nion and ,andidate ,ountries
= *irectorate &or perations outside the European ;nion and ,andidate ,ountries
= 1inance *irectorate
= $ro!ects *irectorate
= 2is3 Management *irectorate
= Inspectorate Genera(
= EIB Group ,omp(iance &&ice
= Management ,ommittee Ad"iser
= 2epresentation o& Board o& *irectors o& European Ban3 &or 2econstruction and *e"e(opment
3. !roducts and "ervices
%he EIB o&&ers three main ser"ices to c(ients<
= 1oans< granted to "iab(e capita( spending programs or pro!ects in both the pub(ic and pri"ate
sectors. ,ounterparties range &rom (arge corporations to municipa(ities and sma(( and medium7
si.ed enterprises.
= 2echnical &ssistance< pro"ided by a team o& eApert economists9 engineers and sectora(
specia(ists to comp(ement EIB &inancing &aci(ities.
= *uarantees< a"ai(ab(e to a :ide range o& counterparties9 e.g. ban3s9 (easing companies9
guarantee institutions9 mutua( guarantee &unds9 specia( purpose "ehic(es and others.
= 3enture .apital< 2eDuests &or "enture capita( shou(d be addressed direct(y to an
intermediary.
).1. 1oans
.lients
EIB c(ients are pub(ic and pri"ate sector bodies and enterprises. %he pro!ect promoted by the pub(ic or
pri"ate c(ient must be in (ine :ith the (ending ob!ecti"es o& the EIB and be economica((y9 &inancia((y9
technica((y and en"ironmenta((y sound.
(ectors
%he EIB &inances a broad range o& pro!ects in a(( sectors o& the economy. $ro!ects must adhere to at
(east one o& the EIB (ending ob!ecti"es.
4inancing 4acilities
As a ru(e9 the Ban3 (ends up to #/@ o& the in"estment costs o& a pro!ect.
%he EIB has t:o main &inancing &aci(ities<
= Individual loans< pro"ided to "iab(e and sound pro!ects and programs costing more than E;2
2# mi((ion :hich are in (ine :ith EIB (ending ob!ecti"es.
= Intermediated loans< credit (ines to ban3s and &inancia( institutions to he(p them to pro"ide
&inance to sma(( and medium7si.ed enterprises :ith e(igib(e in"estment programs or pro!ects
costing (ess than E;2 2# mi((ion. Micro&inance has a(so been pro"ided by the EIB in some
countries.
3.1.1 Individua# $oans
Indi"idua( (oans 4direct (oans5 are granted to pro!ects :here the tota( in"estment cost eAceeds E;2 2#
mi((ion 4E;2 1/ mi((ion in the case o& A,$5.
%he EIB may &inance a maAimum o& #/@ o& the tota( cost o& any pro!ect.
Indi"idua( (oans are a"ai(ab(e to promoters in both the pub(ic and pri"ate sectors9 inc(uding ban3s.
.onditions"
%he conditions o& &inancing are adapted to the in"estment type. AdeDuate security is needed9 such as
that pro"ided by a ban3 or ban3ing syndicate9 a &inancia( institution9 or a (arge di"ersi&ied parent
company :ith a good credit rating.
Interest 5ates"
%he Ban3 can o&&er<
= &iAed rates
= re"isab(e &iAed rates
= con"ertib(e rates 4a((o:ing &or the change o& interest rate &ormu(a during the (i&e o& the (oan at
predetermined dates or periods.5
4ees"
%he EIB does not norma((y charge commitment &ees or non7uti(i.ation &ees. 1ees &or a pro!ect>s
appraisa( and reDuired (ega( ser"ices may be app(icab(e in certain cases.
.urrencies"
%he EIB Group>s &inancia( accounts are in Euro 4E;25. In addition9 the Ban3 can (end in<
= ;6 Ster(ing 4GB$5
= ;S *o((ar 4;S*5
= Hapanese Gen 4H$G5
= S:edish and *anish ,ro:ns 4SE6 and *665
= S:iss 1ranc 4,F15
= ,urrencies o& ,andidate ,ountries and other EIB partner countries
5epayment"
2epayment is norma((y on a semi7annua( or annua( basis. Grace periods &or capita( repayment may be
granted &or the construction phase o& the pro!ect.
3.1.2. Intermediated $oans
EIB Intermediated (oans are (ines o& credit or indirect (oans designed to permit the &inancing o& pro!ects
:ith a tota( in"estment cost o& (ess than E;2 2# mi((ion 4E;2 1/ mi((ion in the case o& A,$5.
An EIB credit (ine may &inance a maAimum o& #/@ o& the tota( cost o& any pro!ect.
,redit (ines are granted to intermediary ban3s and &inancing institutions in the country in :hich the
pro!ect is based. %hese institutions pass on the EIB &unds to the promoters9 genera((y SMEs and (oca(
authorities.
%o Dua(i&y as an SME9 a company must ha"e &e:er than 2#/ emp(oyees9 an annua( turno"er not
eAceeding E;2 #/ mi((ion9 and an annua( ba(ance sheet tota( o& up to E;2 43 mi((ion.
.onditions"
%he conditions o& &inancing 4interest rate9 grace period9 (oan period etc5 are determined by the
respecti"e EIB partner ban3. Maturities typica((y range bet:een # and 12 years.
0ending decisions under these schemes remain :ith the &inancia( intermediaries.
$romoters are reDuested to app(y direct(y to one o& the intermediary ban3s and &inancing institutions9
:hich operate on a nationa(9 regiona( or (oca( (e"e(. 2eDuirements &or app(ication may "ary according
to the respecti"e intermediary.
3.1.3. "%ecia# Instruments
%he EIB a(so has a range o& specia(i.ed (ending instruments<
= (tructured 4inance 4acility< to pro"ide &unding to the pro!ects :ith a high7ris3 pro&i(e and to
pursue eDuity &inancing and guarantee operations in &a"or o& (arge7sca(e in&rastructure schemes.
= 5isk-(haring 4inance 4acility< created in con!unction :ith the European ,ommission9 to
eApand the Ban3>s basis &or pro"iding higher7ris3 &inancing &or inno"ati"e pro!ects in the
sectors o& techno(ogy p(at&orms and research & de"e(opment.
= .arbon .redit 4unds< created in co((aboration :ith institutions such as the EB2* and
Eor(d Ban3 to de"e(op the carbon mar3et in transition countries and to encourage pri"ate sector
participation.
3.1.3.1. "tructured &inance &aci#it'
In order to match the types o& &unding to the reDuirements o& pro!ects :ith a high7ris3 pro&i(e and to
pursue its eDuity &inancing and guarantee operations in &a"our o& (arge7sca(e in&rastructure schemes9 the
EIB has estab(ished a Structured 1inance 1aci(ity 4S115. %ota( reser"es o& )#/ mi((ion ha"e been set
aside under this heading o"er the neAt three years &or the purpose o& generating operations amounting
to bet:een 1.# and 2.# bi((ion9 pro"iding a broad miA o& &inancia( products<
= senior loans and guarantees incorporating pre7comp(etion and ear(y operationa( ris3?
= subordinated loans and guarantees ran3ing ahead o& shareho(der subordinated debt?
= me00anine finance9 inc(uding high7yie(d debt &or industria( companies in transition &rom
SME sca(e or in the course o& restructuring?
= project-related derivatives.
%he aim o& the S11 is to &urnish "a(ue added &or priority pro!ects by comp(ementing the commercia(
ban3s and capita( mar3ets. %hese operations :i(( be underta3en chie&(y in the countries o& the European
;nion9 but a(so in non7member countries.
3.1.3.2. (is) "haring &inance &aci#it' *("&&+
$bjectives of 5(44
In"estment in 2esearch9 *e"e(opment and Inno"ation 42*I5 has been identi&ied as a 3ey &actor to
impro"e competiti"eness and ensure (ong term economic gro:th and emp(oyment in Europe. ;nder the
0isbon Strategy estab(ished in 2///9 Europe has set itse(& the goa( to become the most competiti"e and
dynamic 3no:(edge7based economy in the :or(d.
1inding pri"ate &unding sources &or 2*I pro!ects can be di&&icu(t due to their nature<
= comp(eA products and techno(ogies
= unpro"en mar3ets
= intangib(e assets
= in&ormation di&&icu(t to e"a(uate by the &inancia( sector.
%he European ,ommission and the European In"estment Ban3 4EIB5 ha"e !oined &orces to set up the
2is3 Sharing 1inance 1aci(ity 42S115. 2S11 is an inno"ati"e scheme to impro"e access to debt
&inancing &or pri"ate companies or pub(ic institutions promoting acti"ities in the &ie(d o&<
= 2esearch9 %echno(ogica( *e"e(opment *emonstration9 and
= Inno"ation in"estments.
= 2S11 is bui(t on the princip(e o& credit ris3 sharing bet:een the European ,ommunity and the
EIB and eAtends there&ore the abi(ity o& the Ban3 to pro"ide (oans or guarantees :ith a (o: and
sub7in"estment grade ris3 pro&i(e 4in"o("ing &inancia( ris3s abo"e those norma((y accepted by
in"estors5. %he scheme a(so pro"ides a :ea(th o& opportunities &or ne: and inno"ati"e EIB
&inancing so(utions directed at the pri"ate sector and the research community as a :ho(e.
6o# 5(44 #orks
2S11 is based on an inno"ati"e idea o& (e"eraging ,ommunity Budget &unds a"ai(ab(e under the
Se"enth ,ommunity 1rame:or3 $rogramme 41$)5 through EIB &inancing.
%he European ,ommunity :i(( a((ocate up to E;2 1bn o& &unds a"ai(ab(e under the Se"enth
1rame:or3 $rogramme 42//)72/135 to 2S11. In para((e(9 the EIB is contributing up to E;2 1bn &rom
its o:n resources. %ogether9 these &unds :i(( be used to bac3 up &inancing operations :ith a higher ris3
pro&i(e than the a"erage EIB (ending port&o(io. Gi"en that each E;2 o& 1$) and EIB contribution to
2S11 :i((9 on a"erage9 trans(ate into # E;2 o& 2S11 (oans and guarantees9 2S11 :i(( increase the
o"era(( capacity o& the EIB to &inance higher7ris39 yet credit:orthy9 2esearch9 *e"e(opment and
Inno"ation 42*I5 pro!ects by up to E;2 1/bn.
;nder 2S119 the EIB :i(( open ne: :ays to add "a(ue<
= By pro"iding (ong7term &inancing :ith potentia((y subordination e(ements 4&inancing ran3ing
behind debt pro"ided by senior (enders59 the EIB can strengthen the promoterCs &inancia( pro&i(e9
thereby increasing his capacity to attract additiona( &unding &or his in"estments.
= 2is3 sharing :ith the ban3ing sector :i(( a((e"iate eAisting ris3 management re(ated (ending
constraints9 boosting the &inancia( communityCs o"era(( capacity to support 2*I acti"ities
particu(ar(y in the area o& Sma(( and Medium si.ed Enterprises.
= 2S11 :i(( enhance the Ban3Cs abi(ity to de"e(op ne: &inancia( products in order to o"ercome
the mar3etCs :ea3ness to co"er the reDuirements o& the targeted sectors and promoters.
%hat can be financed7
%he EIB &inances e(igib(e and "iab(e in"estments promoted by credit:orthy counterparts estab(ished in
E; Member States and Associated ,ountries.
Eligible and viable projects
2S11 can support a :ide range o& 2*I 42esearch9 %echno(ogica( *e"e(opment & *emonstration and
Inno"ation5 acti"ities9 inc(uding<
= Basic or 1undamenta( 2esearch
= App(ied or Industria( 2esearch
= EAperimenta( or $re7competiti"e de"e(opment
= *e&inition stage or &easibi(ity studies
= $i(ots and *emonstration acti"ities.
2S11 a(so supports European 2esearch Initiati"es9 inc(uding 2esearch In&rastructures9 European
%echno(ogy $(at&orms9 Hoint %echno(ogy Initiati"es or pro!ects underta3en under Eure3a.
%he scope o& e(igib(e acti"ities is :ide and eAtends &rom traditiona( Ibric3 and mortarI in"estments to
eDuipment and so&t in"estments such as 2&* operating cost9 sa(aries o& researchers9 management and
support sta&&9 uti(ities9 consumab(es9 I$2 acDuisition or protection costs and9 under certain conditions9
(easing and depreciation.
$ro!ects to be &inanced by the EIB need to be technica((y9 economica((y9 &inancia((y and
en"ironmenta((y &easib(e according to the Ban3Cs pro!ect e"a(uation criteria.
%ho can benefit from 5(44 financing7
%he 2is3 Sharing 1inance 1aci(ity can pro"ide &or higher ris3 &inancing made a"ai(ab(e to entities o&
any si.e and o:nership imp(ementing pro!ects in the area o& 2esearch9 %echno(ogica( *e"e(opment9
*emonstration and Inno"ation.
2S11 bene&iciaries can be direct borro:ers and guarantee bene&iciaries o& the EIB under *irect 2S11
1inancing or bene&it indirect(y &rom 2S11 under Intermediated 2S11 1inancing "ia ban3s9 (easing
companies or other &inancia( institutions.
2S11 :i(( be app(ied in co7&inancing :ith ban3s9 promotiona( agencies or other &inancia( institutions.
In eAceptiona( cases9 the EIB can a(so &inance on a stand7a(one basis.
2S11 bene&iciaries<
= $ri"ate and pub(ic mid7si.ed or (arge companies
= Sma((7and medium si.ed companies
= 2esearch institutes
= ;ni"ersities
= Speci&ic $urpose ,ompanies
= 2esearch In&rastructure companies
= 1oundations and other (ega( entities
%he &o((o:ing genera( reDuirements app(y to a(( 2S11 bene&iciaries<
= Imp(ementation o& an e(igib(e 2*I pro!ect< the bene&iciary imp(ements an 2*I pro!ect
comp(iant :ith the E(igibi(ity ,riteria estab(ished &or the 2is3 Sharing 1inance 1aci(ity
= ,apacity to assume &inancia( ob(igations< the bene&iciary o& an 2S11 &inancing must be
estab(ished as a (ega( entity capab(e9 under re(e"ant nationa( (a: and his statutes9 to ta3e up
&inancia( debt or bene&it &rom a guarantee
= Abi(ity to ser"ice &inancia( ob(igations< the bene&iciary needs to demonstrate that his regu(ar
acti"ity or the imp(ementation o& the 2S11 pro!ect :i(( generate su&&icient &ree cash7&(o: in
order to co"er (oan interest payments9 capita( reimbursements andJor other charges payab(e
under the 2S11 &inancing contract and under its other &inancia( ob(igations
%hat financing products are available7
2S11 &inancing products co"er a :ide range o& corporate debt so(utions to suit the di"erse and dynamic
needs o& promoters underta3ing 2esearch9 %echno(ogica( *e"e(opment & *emonstration and
Inno"ation 42*I5. 2S11 products can be tai(ored to the indi"idua( &inancing needs o& the promoter and
co7&inancing partners.
2S11 &inancing :i(( either be pro"ided direct(y to the promoter or "ia a &inancia( intermediary 4e.g. one
o& the promoter>s house ban3s5.
Direct RSFF Financing:
= ,orporate *ebt 1inancing
= $ro!ect 1inancing
= Me..anine 1inancing
Intermediated RSFF Financing:
= 2is3 Sharing 0ines o& ,redit
= Guarantees
Added Value of RSFF products:
= Attracti"e &inancing terms 7 EIB>s AAA rating and non7pro&it orientation
= 0ong &inancing tenors
= A"ai(abi(ity o& a(( ma!or currencies
= Abi(ity to share ris3s :ith promoters9 ban3s and other sta3eho(ders as appropriate
= EIB structuring eApertise
= ,ata(ytic e&&ect o& EIB in"o("ement9 attracting other &inancing partners.
6o# to apply
%here are no &orma( reDuirements to app(y &or &inancing &rom the European In"estment Ban3.
1or pro!ects :ith a tota( pro!ect cost o& E;2 1#m and abo"e9 the Ban3 can be contacted direct(y<
= "ia its Fead &&ices in 0uAembourg
= "ia its European EAterna( &&ices (ocated in Austria9 Be(gium9 1rance9 Germany9 Greece9
Ita(y9 $o(and9 $ortuga(9 Spain and the ;nited76ingdom.
1or the &inancing o& sma(( and medium si.ed 2*I pro!ects and enterprises9 the EIB is cooperating :ith
a (arge number o& &inancia( intermediaries bene&iting &rom EIB credit (ines9 through :hich (imited si.e
&inancing is made a"ai(ab(e. 1or in&ormation on a"ai(ab(e EIB partners p(ease consu(t the (ist o&
intermediary ban3s and &inancing institutions &or g(oba( (oans.
In addition9 the EIB is de"e(oping ne: ris3 sharing credit (ines under :hich &inancia( intermediaries
:i(( be ab(e to pro"ide (imited si.ed &inancing to sma(( and medium si.ed pro!ects and enterprises on a
ris3 sharing basis.
1urther &inancia( products9 inc(uding guarantees to sma(( and medium si.ed pro!ects and enterprises can
be pro"ided by the European In"estment 1und9 the EIB groupCs specia(i.ed "ehic(e in Benture ,apita(
and Guarantees.
3.1.. ,ID" &und Energ' Efficienc' &aci#it'
%hat is the purpose of the 4acility7
%he purpose o& the 1aci(ity is to promote energy e&&iciency and rene:ab(e energy in Bu(garia. %he
1aci(ity targets pro!ects by Bu(garian municipa(ities or other pub(ic or pri"ate sector promoters. It
pro"ides not on(y &inancia( resources 4(oans combined :ith grants5 but a(so technica( assistance
supporting pro!ect p(anning and imp(ementation.
%he 1aci(ity combines European In"estment Ban3 4KEIBL5 (oans at &inest terms :ith grants &rom the
6o(.oduy Internationa( *ecommissioning Support 1und 4K6I*S 1undL5. %he EIB (oans are channe(ed
to e(igib(e promoters through the net:or3 o& EIB partner ban3s in Bu(garia participating in the 1aci(ity.
%hat projects can be financed7
= $ro!ect cost has to amount bet:een E;2 4/9/// and E;2 2#9///9///.
= $ro!ects shou(d ha"e a (i&e o& at (east 4 years 4mid7 and (ong7term pro!ects5.
= %he maAimum imp(ementation period o& pro!ects shou(d norma((y not eAceed 3 years.
%hat are the benefits of the EE47
8I/( 4und *rants of 29: of the loan amount
;nder the 1aci(ity9 EIB (oans are combined :ith 6I*S 1 grants. $ub(ic sector promoters o& energy
e&&iciency and rene:ab(e energy pro!ects9 &inanced under the 1aci(ity are entit(ed to a grant o& 2/@ o&
the EIB (oan amount pro"ided by the respecti"e EIB partner ban39 sub!ect to a success&u( comp(etion o&
the pro!ect9 certi&ied by the 1aci(ity>s Independent Energy EApert.
$ri"ate sector promoters cou(d recei"e a grant o& ).#@ o& the EIB (oan amount &or their energy
e&&iciency pro!ects and 2/@ o& the EIB (oan amount &or their rene:ab(e energy pro!ects.
1ong-term attractively priced EIB loans
Being a non7pro&it7oriented institution and due to its AAA7rating9 the EIB pro"ides (oans at &inest
terms. %he EIB &inancing usua((y amounts up to #/@ o& the tota( pro!ect cost9 in eAceptiona( cases up to
)#@.
EIB (oans are pro"ided to municipa(ities and other pub(ic or pri"ate sector promoters through credit
(ines eAtended to EIB>s partner ban3s in Bu(garia participating in the EE1. %he &ina( conditions o&
&inancing remain :ith the partner ban3s.
2echnical &ssistance
In order to support the imp(ementation o& the 1aci(ity9 the EIB has contracted an Independent Energy
EApert 4KIEEL5 :ho :i(( assist municipa(ities and intermediary ban3s in pro!ect identi&ication9 pro!ect
p(anning and pro!ect comp(etion.
Eligible !romoters
%he purpose o& the 1aci(ity is to support the &inancing o& energy e&&iciency pro!ects and rene:ab(e
energy pro!ects o& !ublic sector promoters9 inc(uding<
= the 2epub(ic o& Bu(garia 4represented by its Ministries5?
= regions9 counties or districts?
= municipa(ities and their associations?
= State contro((ed road9 rai(:ay9 port and airport authorities9 pub(ic ser"iceJ:or3s concession
ho(ders 4inc(uding under $$$ structures5 and agencies guaranteed by these authorities?
= $ub(ic or pri"ate companies underta3ing :or3s or ser"ices to imp(ement the sub7pro!ects9
inc(uding Energy Ser"ice ,ompanies9 operating under Artic(e 2/ and 21 o& the Energy
E&&iciency Act o& Bu(garia 4ES,s5.
Eligible sub-sectors
$ro!ects e(igib(e &or &inancing under the 1aci(ity :ou(d be a(( &inancia((y sound pro!ects that support the
purpose o& the 1aci(ity inc(uding in particu(ar9 but not (imited to9 pro!ects in the &o((o:ing sectors<
= Energy Sa"ings J Energy E&&iciency in Bui(dings
= Sma(( Sca(e ,o7Generation o& Feat and $o:er
= Eind $o:er
= $o:er *istribution
= 8atura( Gas *istribution
= So(ar energy< $hoto"o(taic and %herma( So(ar $ane(s
= Fydro7E(ectric $(ants
= Geo7%herma(
6o# to benefit from the 4acility7
1. 4irst step ; finding out if a project meets the eligibility criteria
%o &ind out :hether a pro!ect is e(igib(e the $romoter shou(d &irst consu(t the technica(
e(igibi(ity chec3(ist. I& the promoter needs &urther guidance on determining :hether a pro!ect is
e(igib(e he may contact the Independent Energy EApert.
2. (econd step ; selecting a bank participating in the 4acility
n(y pro!ects :hich :i(( be &inanced by a ban3 participating in the 1aci(ity cou(d bene&it &rom
the grants. %he promoter shou(d there&ore contact one or se"era( participating ban3s :hich
:ou(d in&orm the promoter i& and at :hat terms they cou(d &inance the pro!ect. SubseDuent(y9
&o((o:ing the (oca( procurement procedures 4i& such procedures app(y59 the promoter :ou(d
se(ect a participating ban3 to &inance the pro!ect.
). 2hird step ; !roject !lan preparation
nce the pro!ect has been de&ined as e(igib(e and a partner ban3 in Bu(garia has been se(ected to
&inance it9 the IEE9 together :ith the promoter9 prepares a so ca((ed K$ro!ect p(anL :hich :i((
out(ine the ob!ecti"es o& the pro!ect9 con&irm its e(igibi(ity9 and in genera( !usti&y the use o&
&unding &rom the 6I*S1 main(y by describing the targeted pro!ect bene&its.
+. 4ourth step ; project implementation
$ro!ect imp(ementation shou(d &o((o: the ob!ecti"es and recommendations set &orth in the
$ro!ect $(an and shou(d in princip(e not ta3e more than three years. 1i&th step M pro!ect
comp(etion and payment o& 6I*S 1 grants A&ter the imp(ementation o& each pro!ect the IEE
:i(( "a(idate the resu(ts against the $ro!ect $(an. Based on IEE>s positi"e "a(idation the grant
money &rom the 6I*S 1 4up to 2/@ o& the EIB (oan amount5 :i(( be made a"ai(ab(e.
%echnica((y9 the 6I*S 1und grant :i(( be credited to the promoter by reducing his outstanding
(oan :ith the respecti"e participating ban3.
).2. 2echnical &ssistance
%he EIB o&&ers a range o& upstream technica( assistance in addition to &inancia( support. %he &orm o&
this assistance "aries according to geographica( constraints.
%o &aci(itate pro!ect appraisa( and pro"ision o& %echnica( Assistance9 the EIB $ro!ects *irectorate
emp(oys specia(ist sectora( economists and engineers :ho assess and ad"ise on indi"idua( pro!ects.
%ithin the EU9 the EIB per&orms detai(ed due di(igence prior to in"estment. A(( pro!ects must &o((o:
the en"ironmenta( and procurement directi"es o& the E;.
<&(!E5(
1or the 1/ Member States :hich !oined the ;nion in 2//4 and 2omania and Bu(garia :hich !oined in
2//)9 the EIB9 European ,ommission and EB2* ha"e (aunched a !oint initiati"e to pro"ide technica(
support &or pro!ect preparation in the case o& (arge in&rastructure schemes :hich recei"e &inance &rom
the Structura( and ,ohesion 1unds. In both the A,$ and the Mediterranean 8eighborhood 41EMI$5
countries9 the Ban3 pro"ides technica( assistance &or pro!ect preparation.
%he &orms o& technica( assistance a"ai(ab(e inc(ude<
= Studies in the areas o& (egis(ation9 regu(atory re&orm and the a:ard o& concessions
= 1easibi(ity studies
= $ro!ect management units to a"oid de(ays and cost o"erruns
).). *uarantees
Eithin the E; the Ban3 may pro"ide guarantees &or senior and subordinated debt. %he guarantee is
either a standard guarantee or debt ser"ice guarantee simi(ar to that o&&ered by mono(ine insurers.
*epending on the under(ying &unding structure o& the operation9 an EIB guarantee may be more
attracti"e than an EIB (oan.
It can pro"ide<
= higher "a(ue7added
= (o:er capita( charges 7 under Base( II9 EIB guarantees pro"ide a .ero ris3 :eighting to the
guaranteed ob(igation
In addition9 the 0oan Guarantee Instrument &or %E8 %ransport 40G%%5 is designed to guarantee
re"enue ris3s during a (imited period &o((o:ing construction o& %E8s pro!ects9 notab(y under a $$$
structure.
Guarantees are a(so pro"ided under the In"estment 1aci(ity &or &inancing A&rican9 ,aribbean and
$aci&ic countries.
. !ro-ects
%he EIB &inances pro!ects promoting E; ob!ecti"es in a number o& geographica( regions and across a
range o& topics.
+.1. *eographic 5egions
%he EIB is acti"e both inside and outside the European ;nion.
%he ma!ority o& EIB (ending is attributed to promoters in the E; countries 4+)@ in 2//'5 supporting
the continued de"e(opment and integration o& the ;nion.
utside the ;nion9 EIB (ending is go"erned by a series o& mandates &rom the European ;nion in
support o& E; de"e(opment and cooperation po(icies in partner countries.
,urrent EIB eAterna( mandates inc(ude<
= 2he enlargement area of southern and eastern Europe
= =eighborhood"
o %he Mediterranean 8eighborhood
o 2ussia and the Eastern 8eighborhood
= /evelopment and cooperation countries<
o A&rica9 ,aribbean and $aci&ic 4and "erseas ,ountries and %erritories5
o South A&rica
o Asia and 0atin America
.1.1. En#argement Countries
EIB pro"ides &inances o& E;2 +.) bi((ion under an eAterna( (ending mandate &or the countries in the
en(argement region in the period 2//)72/13<
= ,roatia
= %ur3ey
= %he Eestern Ba(3ans9 inc(uding the 1ormer Gugos(a" 2epub(ic o& Macedonia 41G2M5
EIB (ending in the en(argement countries ta3es the &orm o&<
= Indi"idua( (oans
= Intermediated (oans
= Benture capita( &inance
EIB supports in"estment e&&orts reDuired<
= to meet the reDuirements o& E; (egis(ation
= to aid economic de"e(opment prior to the start o& membership negotiations
.1.2. &aci#it' for Euro.Mediterranean Investment and !artnershi% *&EMI!+
1EMI$ brings together the :ho(e range o& ser"ices pro"ided by the EIB to assist the economic
de"e(opment o& the Mediterranean partner countries 4A(geria9 Egypt9 Ga.aJEest Ban39 Israe(9 Hordan9
0ebanon9 Morocco9 Syria and %unisia5.
As part o& the Barce(ona $rocess and the European 8eighborhood $o(icy9 1EMI$ encourages the
moderni.ation and opening7up o& the economies o& the Mediterranean partner countries.
Acti"ities are &ocused on t:o priority areas< support &or the pri"ate sector and creating an in"estment7
&riend(y en"ironment.
.1.3. (ussia / Eastern 0eighbourhood
%he mandates go"erning EIB acti"ity in the East ha"e broadened in si.e and scope since 2//1.
= 2991< E;2 1//m &or 2ussia a(one9 &ocused on se(ected en"ironmenta( pro!ects in the Ba(tic
Sea rim o& 2ussia.
= Up to <uly 299>< E;2 #//m &or 2ussia9 Be(arusN9 Mo(do"a and ;3raine &or &inancing
pro!ects o& 3ey common interest &or the E;Jrespecti"e country in the areas o& Ken"ironmentL9 as
:e(( as Ktransport9 te(ecommunications and energy in&rastructure on priority %rans7European
8et:or3 4%E85 aAes ha"ing cross7border imp(ications &or a Member StateL o& the E; 4N sub!ect
to &uture decision o& the ,ommission5.
= 299>-291)< E;2 3.)bn &or 2ussia9 Eastern Europe 4;3raine9 Mo(do"a and M sub!ect to &uture
,ounci( Agreement M Be(arus5 as :e(( as Southern ,aucasus 4Armenia9 A.erbai!an and
Georgia5. %his ne: mandate is &or Kpro!ects o& signi&icant interest to the E; in transport9
energy9 te(ecommunications and en"ironmenta( in&rastructure. $riority shou(d be gi"en to
pro!ects on eAtended ma!or %rans European 8et:or3 aAes9 pro!ects :ith cross7border
imp(ications &or one or more Member States and ma!or pro!ects &a"ouring regiona( integration
through increased connecti"ity. In the en"ironmenta( sector9 the EIB shou(d in 2ussia gi"e
particu(ar priority to pro!ects :ithin the &rame:or3 o& the 8orthern *imension En"ironmenta(
$artnership. In the energy sector9 strategic energy supp(y and energy transport pro!ects are o&
particu(ar importance.I
4rame#ork &greements
%o enab(e EIB acti"ity in the indi"idua( countries under the mandate9 &rame:or3 agreements are
conc(uded bet:een the Ban3 and the countries concerned. %o date such agreements ha"e been signed
:ith 2ussia9 ;3raine9 Mo(do"a and Georgia.
A Memorandum o& ;nderstanding bet:een the European ,ommission9 the EIB and the EB2* :as
signed on 1# *ecember 2//'9 rein&orcing their c(ose cooperation in 2ussia and the Eastern 8eighbour
countries.
!rojects financed
= E;2 2# mi((ion to Bodo3ana( o& St $etersburg &or the South Eest Easte:ater %reatment
$(ant in St $etersburg 7 the &irst pro!ect in 2ussia to ha"e recei"ed &inance &rom EIB
= E;2 2/ mi((ion to Bodo3ana( o& St $etersburg &or the rehabi(itation and modernisation o& the
,ity>s 8orthern Easte:ater %reatment $(ant
= E;2 4/ mi((ion to the 2ussian 1ederation &or the St $etersburg 1(ood $rotection Barrier
= E;2 3/ mi((ion to the 2epub(ic o& Mo(do"a &or the rehabi(itation o& roads (in3ing the capita(
,hisinau to the E; border 7 the &irst pro!ect in Mo(do"a to ha"e recei"ed &inance &rom EIB
.1.. African1 Caribbean and !acific *AC!+
%he A&rican9 ,aribbean and $aci&ic 4A,$5 countries ha"e estab(ished a specia( re(ationship :ith the
European ;nion through successi"e agreements. %he (atest one is the .otonou !artnership
&greement signed in 2///.
%he EIB current(y has &i"e regiona( o&&ices in the A,$ region<
= *a3ar o&&ice ser"ing Eestern A&rica
= 8airobi o&&ice ser"ing East and ,entra( A&rica
= $retoria o&&ice ser"ing Southern A&rica
= 1ort de 1rance o&&ice ser"ing the ,aribbean region
= Sydney ser"ing the $aci&ic region
.1.2. Asia and $atin America *A$A+
EIB (ending in Asia and 0atin America 4A0A5 started in 1--3 and is go"erned by mandates &rom the
European ;nion 4E;5. ;nder the current mandate 4A0A IB59 co"ering the period the 2//)72/139 the
EIB is authorised to (end up to E;2 3.+ bi((ion &or &inancing operations supporting the E; cooperation
stategies in these regions and comp(ementing other E; de"e(opment and cooperation programmes and
instruments in these regions. %he E;2 3.+ bi((ion regiona( cei(ing is bro3en do:n into indicati"e sub7
cei(ings o& E;2 2.+ bi((ion &or 0atin America and E;2 1./ bi((ion &or Asia. %here are no amounts
a((ocated per country.
%he countries current(y e(igib(e &or EIB &inancing under the A0A IB mandate are<
1. Asia
Brunei9 Indonesia9 0aos9 Ma(aysia9 $hi(ippines9 Singapore9 %hai(and9 Bietnam 7 ASEA8
Group Bang(adesh9 ,hina9 India9 Mongo(ia9 8epa(9 $a3istan9 South 6orea9 Sri 0an3a9
Gemen
2. 0atin America
= Bo(i"ia9 ,o(ombia9 Ecuador9 $eru9 Bene.ue(a 7 Andean ,ommunity
= ,osta 2ica9 E( Sa("ador9 Guatema(a9 Fonduras9 8icaragua 7 ,entra( American ,ommon
Mar3et
= Argentina9 Bra.i(9 $araguay9 ;ruguay 7 ME2,S;2
= ,hi(e9 MeAico9 $anama
2ypes of projects
%he EIB can support "iab(e pub(ic and pri"ate sector pro!ects in in&rastructure9 industry9 agro7industry9
mining and ser"ices. Specia( emphasis is gi"en to pro!ects that contribute to en"ironmenta(
sustainabi(ity 4inc(uding c(imate change mitigation5 and to the security o& the E; energy supp(y. %he
other core sector o& acti"ity :i(( be to support the E; presence in those regions through 1oreign *irect
In"estment9 trans&er o& techno(ogy and 3no:7ho:. EIB (oans are pro!ect7oriented and (in3ed to the
&inancing o& the &iAed7asset components o& an in"estment.
$ro!ects :ith a tota( in"estment abo"e E;2 2# mi((ion can be &inanced either direct(y to a pro!ect
promoter or indirect(y through a go"ernment or &inancia( intermediary. $ro!ect promoters are reDuired
simp(y to pro"ide the Ban3Cs perations *irectorate :ith a detai(ed description o& their capita(
in"estment together :ith the prospecti"e &inancing arrangements. %he tota( in"estment o& a typica(
pro!ect under the A0A III mandate is abo"e E;2 4/ mi((ion.
1or sma((er pro!ects the EIB can (end through credit (ines to se(ected &inancia( institutions9 :hich then
on7(end the &unds main(y to sma(( and medium7si.ed enterprises 4SMEs5. %he &inancia( institutions
assess each pro!ect9 assume the credit ris3 and set the (oan conditions &or the &ina( bene&iciary
according to criteria agreed :ith the EIB. Interested promoters o& such pro!ects shou(d contact the
ban3s and intermediaries direct(y.
+.2. 2opics
%he EIB &inances pro!ects across most sectors. %hese pro!ects must contribute to the &o((o:ing E;
economic po(icy ob!ecti"es<
= ,ohesion and con"ergence promotes de"e(oping regions :ithin the E; and is the 3ey to the
integration ob!ecti"es o& the ;nion.
= Support &or sma(( and medium si.ed enterprises 4SMEs5 is centra( to the E;>s economy and
emp(oyment.
= En"ironmenta( pro!ects p(ay an important ro(e &or the EIB9 protecting and impro"ing the
natura( en"ironment9 and promote socia( :e((7being in the interest o& sustainab(e de"e(opment.
= Inno"ation supports the goa( o& estab(ishing a competiti"e9 inno"ati"e and 3no:(edge7based
European economy.
= %rans7European 8et:or3s 4%E8s5 are (arge in&rastructure net:or3s o& transport9 energy and
te(ecommunications underpinning the de"e(opmenta( and integration goa(s o& the European
;nion.
= $romoting sustainab(e9 competiti"e and secure energy sources.
= Support &or human capita(9 notab(y hea(th and education.
+.). !roject .ycle
.3.1. A%%#'ing for a #oan
What products are on offer
A &u(( (ist o& products and ser"ices o&&ered by the EIB can be &ound in the $roducts & Ser"ices section.
Is m! project eligible for an EI" loan
%he EIB &inances pro!ects in most sectors. %o be e(igib(e pro!ects must contribute to E; economic
po(icy ob!ecti"es.
#o$ do I appl! for a loan
8o specia( &orma(ities are in"o("ed &or the submission o& app(ications to the EIB &or indi"idua( (oans.
$ro!ect promoters are reDuired simp(y to pro"ide the Ban3Cs perations *irectorate :ith a detai(ed
description o& their capita( in"estment together :ith the prospecti"e &inancing arrangements.
Initia( contacts to discuss a proposed pro!ect can be in any &orm9 by te(ephone9 &aA9 e7mai( or (etter. %he
pro!ect promoter shou(d pro"ide su&&icient in&ormation to a((o: the EIB to assess :hether the pro!ect
adheres to EIB (ending ob!ecti"es and has a :e((7de"e(oped business p(an.
Special %ase: &rojects under E'R () million:
1or pro!ects :here the tota( cost is under E;2 2# mi((ion9 the EIB pro"ides intermediated (oans 4credit
(ines5 to (oca(9 regiona( and nationa( ban3s.
%he (ending decision &or EIB (oans "ia credit (ines remains :ith the &inancia( intermediary. $romoters
interested in EIB &inancing &or pro!ects under E;2 2# mi((ion shou(d contact the ban3s and other
intermediaries in"o("ed direct(y :ith a detai(ed description o& their capita( in"estment together :ith the
prospecti"e &inancing arrangements.
.3.2. A%%raisa#
$ro!ect appraisa( is carried out by the EIBCs teams o& engineers9 economists and &inancia( ana(ysts9 in
c(ose cooperation :ith the promoter.
.riteria &or a typica( EIB appraisa( are tai(ored to each speci&ic pro!ect. 2esu(ts are inc(uded in the
pro!ect report to the Board o& *irectors &or a &inancing decision.
= e(igibi(ity 4consistency :ith the E;Cs priority ob!ecti"es5
= "era(( Dua(ity and soundness
!roject 'uality is based on<
1. %echnica( scope <
= de&inition o& the pro!ectCs Itechnica( descriptionI?
= technica( soundness9 inno"ati"e techno(ogy9 ris3s and mitigation measures?
= in&ormation on capacity &or productsJser"ices.
2. Imp(ementation <
= promoter capabi(ity to imp(ement the p(anned pro!ect?
= in&ormation on timing and emp(oyment during imp(ementation?
3. peration <
= promoterCs capabi(ity to operate and maintain the pro!ect?
= in&ormation on productionJser"ice9 operating and maintenance costs9 emp(oyment
during operationa( (i&e.
4. $rocurement <
= comp(iance :ith app(icab(e (egis(ation and EIB guide(ines.
#. En"ironmenta( impact <
= comp(iance :ith app(icab(e (egis(ation?
= in&ormation on en"ironmenta( impact assessment.
'. Mar3et and demand <
= ana(ysis o& the productsJser"ices demand o"er the pro!ectCs (i&e9 :ith re&erence to
sectora( studies o& the $ro!ects *irectorate.
). In"estment cost <
= in&ormation on pro!ect costs and its detai(ed components?
= comparison :ith cost o& simi(ar pro!ects.
+. $ro&itabi(ity <
= in&ormation on &inancia( pro&itabi(ity and re(ated indicators 4e.g. rate o& return5?
= in&ormation on economic pro&itabi(ity.
.3.3. !rocurement
2endering process for EIB-financed projects"
%he Ban3>s po(icy is to ensure that its &unds are used rationa((y9 in the interests o& the pro!ect it &inances
and in the interests o& the E;. %he Ban3 "eri&ies that a &air process o& internationa( tendering ta3es
p(ace according to procedures set out in the EIB Guide to $rocurement.
2endering process for projects by the EIB for its o#n account"
In its dea(ings :ith eAterna( pro"iders9 the Ban3 is committed to respecting the &undamenta( E;
princip(es regarding pub(ic procurement9 such as the princip(es o& eDua( treatment9 non7discrimination
and transparency. %he Ban3 considers that9 as a genera( ru(e9 these princip(es can be best imp(emented
by competition among Dua(i&ied tenderers and by a se(ection based both on cost and Dua(ity
considerations.
.3.. Monitoring
%he EIB monitors the pro!ect &rom the signature o& the (oan contract through the pro!ect
imp(ementation and operation phase unti( the (oan is paid bac3. Monitoring reDuirements are
determined according to the characteristics o& the pro!ect.
In particu(ar9 the Ban3 monitors the ser"icing o& the (oan9 chec3s that the &unds are being used in (ine
:ith the ob!ecti"es and pro!ections and 3eeps itse(& in&ormed o& de"e(opments concerning the promoter
and its partners. It a(so ensures that the physica( eAecution o& the pro!ect is in accordance :ith the
contract and e"a(uates the resu(ts o& the in"estment.
4inancial monitoring
%he 2is3 Management *irectorate is responsib(e &or the &inancia( monitoring o& (oans signed in the
European ;nion and the restructuring o& operations.
!hysical monitoring
*uring the pro!ect appraisa( phase the $ro!ects *irectorate detects potentia( prob(ems9 in order to
enab(e the necessary correcti"e measures to be ta3en :here reDuired.
*uring the pro!ect imp(ementation phase9 the promoter is ob(iged to in&orm the Ban3 in the e"ent o& a
signi&icant departure &rom :hat :as agreed origina((y.
0ast(y9 a pro!ect comp(etion report estab(ishes any di&&erences :ith respect to the origina( p(ans.
E? post evaluation
EA post e"a(uations9 :hich origina((y &ocused so(e(y on EIB acti"ities9 ha"e been eAtended to
encompass those o& the Group and no: a(so inc(ude the e"a(uation o& the EI1>s "enture capita(
operations and an interim e"a(uation o& the 1EMI$ %rust 1und.
%he studies and e"a(uation reports enab(e the EIB Group to dra: (essons &rom past eAperience. %he
purpose o& the recommendations that are made is to impro"e &uture operations and report on the
imp(ementation o& E; po(icies.
2. !ro-ects &inanced
In 2//'9 the European In"estment Ban3 (ent 4#.) bi((ion euros in support o& the ob!ecti"es o& the
European ;nion< 3-.+ bi((ion in the Member States o& the ;nion and #.- bi((ion in the partner
countries.
Breakdo#n by region
5egion
.urrent year
@in EU5A
!ast - years
@in EU5A
European ;nion )94''9#4+9+4/ 2/29++39/+#93+4
E1%A countries / -//9#+)932)
South7East Europe ')#9///9/// +9-/4933'91/2
Mediterranean countries / '9-#)9)/)9-#)
A&rica9 ,aribbean9 $aci&ic countries O ,% 239#//9/// 29+239/)#9311
South A&rica / '-+9///9///
Asia and 0atin & ,entra( America #/9///9/// 29)4#911-9#4+
,ommon:ea(th o& Independent States / 2+#9///9///
2otal &mount BC21-C9+BCB+9 22DC1EDCE11CD2E
0ast update < /2J/4J2//+
Breakdo#n by sector
(ector
.urrent year
@in EU5A
!ast - years
@in EU5A
Energy 191')9+/292-' 22922)9/'+9+)-
%ransports 293--92//9/// '293+)9)/)9/13
%e(ecommunications 3)#9///9/// +9'/+91119+)-
Eater9 se:erage 3/39#//9/// 1194-)9)-293-'
;rban in&rastructure 4+/9-329)4# -9#129#+'9)+'
,omposite in&rastructure 1//9///9/// '92##94/-9#+)
Industry '+492##9+-# 1+9-3)93)/91-+
Ser"ices 2#/9///9/// 12922-91#4923)
Fea(th and Education 1+-9-/)9#/) 1)9)#+9-219-)#
Agricu(ture9 &isheries9 &orestry / 139///9///
G(oba( (oans 292'494#/93-) #'9)--9)++9')-
2otal &mount BC21-C9+BCB+9 22DC22DCE11CD2E
0ast update < /2J/4J2//+
Breakdo#n by eligibilities
Artic(e 2') o& the %reaty estab(ishing the European ,ommunity de&ines the ro(e o& the Ban3. Its tas3 o&
contributing to the ba(anced de"e(opment o& the European ;nion trans(ates into a set o& ob!ecti"es. %he
pro!ects &a((ing under these di&&erent categories are (isted in the tab(e be(o:.
Eligibility
.urrent year
@in EU5A
!ast - years
@in EU5A
Economic and socia( cohesion 3932+9-/29141 11492239'##94#2
%ransport pro!ects o& common interest 2932192//9/// 4)9-1-9#4#93+'
Energy pro!ects o& common interest 1921)9+/292-' 1+9'/493)-94+4
En"ironmenta( protection and impro"ement 1931)9/))9'-) '19+129-##9+34
Inno"ation 2/1/ Initiati"e 4i2i5 19-4292+/9/43 4#911'9)3/92))
Fuman capita( 21-92#29)#' 2#9#'/9-+#922+
2otal &mount 19C)+DC-1+CE)+ )1)C2)BC2-1CDD1
0ast update < /2J/4J2//+
3. &inancing %rograms of the EIB in (omania
EIB (ending in 2omania in 2//' amounted to E;2 ')-m. %raditiona((y9 the transport sector p(ays an
important ro(e and9 in 2//'9 (oans :ere pro"ided &or the country>s ongoing road rehabi(itation
programme and &or the modernisation o& the Bucharest metro. EIB support &or sma(( and medium7sca(e
business in"estments and municipa( pro!ects is a priority9 :hi(e the Ban3 a(so &ocused on pro!ects in
the :ater sector. %he construction o& a ne: :aste:ater treatment p(ant in Bucharest recei"ed a (oan o&
E;2 2#m. E;2 41.#m :ent to the rehabi(itation o& municipa( se:erage systems and E;2 2-.#m
to:ards impro"ing municipa( drin3ing :ater supp(y ser"ices9 a pro!ect &orming part o& the Sma(( and
Medium7si.ed %o:ns In&rastructure *e"e(opment $rogramme 4SAM%I*5. SAM%I* encourages
sma((er municipa(ities in the same county to group together into associations and de(egate the operation
and management to regiona( operating companies. %he pro!ect :i(( impro"e :ater supp(y ser"ices9 sa"e
costs and reduce (ea3age through the rep(acement o& net:or3 pipes and o(d pumps and the insta((ation
o& :ater consumption meters. %he EIB (oan is combined :ith grants &rom the E;>s $FA2E
$rogramme.
n the occasion o& the EIB 1orum in Athens in ctober 2//'9 the Ban3 signed a &rame:or3 agreement
:ith 2omania a(ong simi(ar (ines to the one :ith Bu(garia. Annua( (ending in 2omania cou(d reach
E;2 1bn in the years ahead9 and part o& the Ban3>s ro(e :i(( be to he(p ensure that pro!ects are
&inanced and imp(emented in an e&&icient and cost7e&&ecti"e :ay. ngoing structura( re&orms and a
stronger presence due to a (oca( EIB and HAS$E2S o&&ice9 :hich is to open ear(y in 2//)9 are eApected
to &urther enhance cooperation. %he Ban3>s &inancing o& pri"ate sector in"estment is a(so eApected to
gro:9 spurred by macroeconomic stabi(ity and continuous strong &oreign direct in"estment in&(o:s.
%he o"era(( cooperation bet:een the 2epub(ic o& 2omania and the EIB :i(( &ocus on the &o((o:ing
de"e(opment ob!ecti"es<
= Set up dedicated co-financing facilities and ne: mechanisms &or in"estments that come under
the E; ,ohesion and Structura( &unds &aci(ities?
= ,ooperate c(ose(y in the implementation o& pro!ects &inanced by the Ban3 using the technica(
and sectora( eAperience o& the Ban3 a(so &or the e&&ecti"e absorption o& E; grants. %his inc(udes
o&&ering a dedicated poo( o& eApertise &or the preparation o& se(ected ,ohesion and Structura(
1unds pro!ects through the HAS$E2S 8ationa( Action $(an initiati"e?
= Impro"e the sources o& &unding &or (E through the HE2EMIE program :ith the
participation o& the Ban3Cs subsidiary EI1 specia(i.ed in "enture capita( and guarantees?
= Support sustainab(e investments in .ity &reas though the speci&ica((y designed HESSI,A
program?
= Assist the Go"ernment and pri"ate partners in the structuring and imp(ementation o& !!!
projects.
%he EIB is committed to supporting the success&u( integration o& 2omania :ithin the ;nion. %he EIBCs
cumu(ati"e &inancing in 2omania stands at E;2 4.3 bi((ion through some 4) pro!ects in a :ide range o&
3ey economic sectors.
D.1. (ome projects to be financed
1. B5/ - *roupe (ociete *enerale .redit 1ine III
/ate of entry" 1+F9-F299>.
Beneficiary" B5/ - *5$U!E ($.IE2E *E=E5&1E (&
1ocation" 5omania - European Union
/escription" Sma(( and medium7sca(e pro!ects in the &ie(ds o& energy9 en"ironmenta( protection9
in&rastructure 4inc(. hea(th9 education9 socia( housing59 de"e(opment o& a 3no:(edge7based economy9
industry9 ser"ices and tourist industry in 2omania.
$bjectives" %he credit (ine :ou(d contribute to the de"e(opment o& term &inance in 2omania. %he
credit (ine :ou(d pro"ide (ong7term &unding &or e(igib(e pro!ects promoted by SMEs9 pub(ic sector
inc(uding municipa( pro!ects and (easing pro!ects. It is intended to combine the credit (ine :ith grant
schemes9 sub!ect to their a"ai(abi(ity.
(ector< G(oba( (oans
!roposed EIB finance" ;p to E;2 3/ mi((ion.
2otal cost" E;2 '/ mi((ion.
Environmental aspects< Eithin the &rame:or3 o& the credit (ine9 the Borro:er :i(( be reDuested to
ensure comp(iance o& the sub7pro!ects :ith E; directi"es9 as appropriate.
!rocurement" Eithin the &rame:or3 o& the credit (ine9 the Borro:er :i(( be reDuested to ensure
comp(iance o& the sub7pro!ects :ith E; directi"es9 in particu(ar &or the a:ard o& pub(ic sector
contracts9 as appropriate.
(tatus" (igned - 2DF11F299>.
2. Bucharest etro 1ine -
/ate of entry" 1>F19F299D.
Beneficiary" (... E25$5EG (.&. @a commercial company under the control of the 5omanian
governmentA
1ocation" 5omania - European UnionC 2he city of Bucharest
/escription" *e"e(opment and modernisation o& the underground transport in Bucharest.
$bjectives" %he Bucharest metro transport system has been ser"ing the city since 1-)-. In"estment
has been stepped up in the (ast ten years :ith an eApansion o& the net:or3 and impro"ed ser"ice. %he
ne: in"estment programme 4the $ro!ect5 to be &inanced by the Ban3 consists o& t:o main components<
the construction o& a ne: metro (ine 40ine #9 (ength - 3m5 connecting a popu(ous area o& the
city :ith its educationa( and administrati"e centre9 and
the purchase o& ro((ing stoc3 to operate 0ine # 421 trains5 and to rep(ace 1' obso(ete units
running on the eAisting net:or3.
(ector< %ransports
!roposed EIB finance" E;2 3)/ mi((ion.
2otal cost< %he o"era(( cost o& the in"estment is e"a(uated at E;2 )43 mi((ion9 :ith MetroreA and the
State budget a(so supporting the pro!ect.
Environmental aspects" %he in"estments to be carried out :i(( a((o: either signi&icant sa"ings in
terms o& reduction o& energy consumption or :i(( he(p to increase the potentia( demand &or
underground transport. Metro pro!ects are characterised by substantia( en"ironmenta( bene&its and
shou(d a(so resu(t in a reduction in greenhouse gasses :hen compared :ith the do7nothing scenario. It
:i(( there&ore contribute to mitigating c(imate change. G(oba((y9 the pro!ect :i(( contribute to the
o"era(( ame(ioration o& the urban en"ironment.
!rocurement" %he Ban3 :i(( reDuire the $romoter to ensure that contracts &or the imp(ementation o&
the pro!ect ha"e beenJsha(( be tendered in accordance :ith the re(e"ant app(icab(e E; procurement
(egis(ation :ith para((e( pub(ication o& tender notices in the E; &&icia( Hourna(9 as and :here
appropriate.
(tatus" &pproved - 21F11F299D.
). (ibiu &irportC 5omania
/ate of entry" )9F19F299D.
Beneficiary" .ounty .ouncil (ibiu
1ocation" 5omania - European UnionC .ity of (ibiu
/escription" %he pro!ect pro"ides &or the eApansion and rehabi(itation o& the Sibiu airport9 inc(uding
the passenger c(earance areas 4ne: termina(59 the run:ay and the apron9 as :e(( as secondary airport
&aci(ities9 such as par3ing9 &ire contro( and (ighting systems.
$bjectives" 2he rehabi(itation and eApansion o& the airport :i(( &aci(itate its continued use :ith
impro"ed sa&ety9 security and com&ort &or passengers. %he main economic bene&it :i(( come &rom time7
sa"ings to passengers arising &rom the a"oidance o& tra"e( disp(acement.
(ector" %ransports
!roposed EIB finance" E;2 4/ mi((ion.
2otal cost" E;2 ').#) mi((ion.
Environmental aspects" A &u(( EIA procedure inc(uding pub(ic consu(tation and in (ine :ith E;
*irecti"es has been carried out and the pro!ect recei"ed en"ironmenta( appro"a( &rom the
En"ironmenta( $rotection Agency Sibiu.
!rocurement" 2he promoter has app(ied open internationa( procurement procedures :ith pub(ication
in the &&icia( Hourna( and in accordance :ith E, *irecti"es on $rocurement.
(tatus" &pproved - 12F12F299D.
+. $radea !ublic 2ransport
/ate of entry" 9-F9)F299B.
Beneficiary" 2he unicipality of $radea
1ocation" 5omania - European Union
/escription" 1inancing the acDuisition o& ne: ro((ing stoc3 4trams and buses5 to be used &or city
pub(ic transport and operated by the (oca( pub(ic transport regia 4radea %ransport 0oca( 2A59
rep(acing obso(ete "ehic(e &(eet.
$bjectives< %he pro!ect aims at impro"ing the pub(ic transport capacity in radea9 ensuring increased
re(iabi(ity o& operation9 better sa&ety and com&ort &or passengers 4inc(uding better accessibi(ity &or
disab(ed peop(e5. It shou(d contribute to a decreased en"ironmenta( impact :ith ne: pub(ic transport
"ehic(es characterised by (o:er ,2 emissions and (o:er noise po((ution.
(ector" %ransports
!roposed EIB finance" E;2 2/ mi((ion
2otal cost" E;2 4/ mi((ion
Environmental aspects" %he supp(y o& ro((ing stoc3 does not &a(( :ithin the scope o& E;
en"ironmenta( aspect assessment regu(ation. *ue to the technica( characteristics o& the ne: ro((ing
stoc39 it is eApected that the pro!ect cou(d contribute to an o"era(( impro"ement in the urban
en"ironment :ith modern trams and buses9 :hich are a(so more energy e&&icient and en"ironmenta((y
&riend(y than the ones that they rep(ace 4better materia(s &or the construction9 (o:er po((utant emissions9
air conditioning9 better maintenance materia(s9 (o:er noise and "ibrations during operation5.
!rocurement" %he promoter is a pub(ic entity sub!ect to E; pub(ic procurement regu(ations 4*irecti"e
2//4J1)J,EE5 as mirrored in the nationa( pub(ic procurement regu(ations. %he Ban3 :i(( reDuire the
promoter to ensure that the contracts under the pro!ect ha"e been or sha(( be tendered in accordance
:ith these regu(ations9 inc(uding pub(ication o& tender notices in the E; &&icia( Hourna(.
(tatus" Under appraisal - 12F92F299B.
4. (eferences
1. %he 2o(e o& the European In"estment Ban3 4Fardco"er), Shei(a 0e:enha3
2. http<JJ:::.eib.orgJpub(ications
3. http<JJec.europa.euJen"ironmentJ
4. EIB Annua( 2eport 2//'
#. European In"estment Ban3 4Eib5 Fandboo39 ;SA Internationa( Business $ub(ications
'. In"esting in EuropeCs 1uture 4Fardco"er5C Arno(d Feert!e
). http<JJ:::.eib.orgJpro!ects