European Investment Bank

The European Investment Bank (EIB) headquartered in Luxembourg, is an international financial entity whose main objective in developing countries is to provide finance and expertise for sound and sustainable investment projects, in both the private and the public sector, provide social and economic infrastructure, and address climate change, among others. EIB is currently operating in over 150 countries and has a mandate to operate in any developing country. Climate action is one of the top policy priorities for EIB, which integrates climate considerations across all its activities, in addition to financing climate mitigation and adaptation projects, thereby contributing to low-carbon and climate-resilient growth around the world and supporting the transition to a sustainable low-carbon future. EIB targets 25 per cent of its portfolio as climate action projects and programmes. In 2014, its total investment in climate action projects and programmes was more than US$ 20 billion. Additionally, EIB regularly provides capacity-building support in many sectors and specific technical assistance focused on developing local skills to support project development and implementation, as a way of strengthening country ownership. EIB seeks to support the paradigm shift objective of the GCF by making use of its network of trusted partners in the public and private sectors and non-governmental organisations to optimize the collaborative work of EIB in tackling climate change, and would help to overcome investment hurdles, in particular those faced by the private sector.