ANNOUNCEMENT 15 Dec 2016

On 15 December 2016, the EIB provided financing worth EUR 100 million (USD 105 million).

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

EIB, Project financing summary, 'Leg Energy Efficient Buildings', 15 December 2016.
https://www.eib.org/en/projects/loans/all/20160038

EIB, Project summary, 'Leg Energy Efficient Buildings', 15 December 2016.
https://www.eib.org/en/projects/pipelines/all/20160038

EIB, Financed projects list
https://www.eib.org/en/projects/pipelines/index.htm?q=&sortColumn=projectStatusDate&sortDir=desc&pageNumber=0&itemPerPage=25&pageable=true&language=EN&defaultLanguage=EN&yearFrom=2016&yearTo=2016&orCountries.region=true&orCountries=true&orSectors=true&orStatus=true

European Investment Bank. Press release. Germany: #investEU – EIB and LEG sign credit facility to finance energy modernisation in housing portfolio.
https://www.eib.org//en/press/all/2016-346-investeu-eib-and-leg-sign-credit-facility-to-finance-energy-modernisation-in-housing-portfolio

Inception date: 15 Dec 2016 | Removal date: open ended

Loan guarantee

The EIBs EUR 100 million (approx. USD 105 million) loan titled Leg Energy Efficient Buildings signed on 15 December 2016 was backed by a guarantee from the European Fund for Strategic Investments (EFSI).

The EFSI is a joint initiative by the EIB and the European Commission to promote investment in Europe, acting as the main pillar of the Investment Plan for Europe. It provides first-loss guarantees enabling the EIB to invest in more and often riskier projects. The loan described above was issued under the EFSI and thus benefits from a full guarantee through the EU budget.

EFSI support does not fall under EU State Aid rules as it is meant as a tool to address 'market failures or sub-optimal investment situations'. However, the investment support does include favourable conditions in the form of public assumption of risk.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
Inception date: 15 Dec 2016 | Removal date: open ended

State loan

On 15 December 2016, the European Investment Bank (EIB) announced an agreement worth EUR 100 million (approx. USD 105 million) for the project Leg Energy Efficient Buildings from Germany. The total cost of the project is estimated at EUR 230 million.

According to the project description issued by the EIB, Investments in the energy-efficient modernisation of residential housing and the construction of nearly-zero energy buildings (NZEB).

The objective of the project is defined as following: This operation supports regional, national and European objectives related to improving energy efficiency and increasing renewable energy generation in the housing sector..

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.