Algeria 
Egypt 
Jordan 
Lebanon 
Libya 
Morocco 
Palestine * 
Syria * 
Tunisia Commission and EIB announce a more flexible guarantee of €5 billion to boost global investments
On the occasion of the 4th International Conference on Financing for Development, the European Commission and the European Investment Bank (EIB) announced today a new type of guarantee agreement that will provide up to €5 billion to de-risk investments and expand EIB operations outside the European Union (EU). Today’s guarantee has the potential to unlock up to €10 billion in funding for critical projects in clean energy, green infrastructure and access to finance for Small and Medium Enterprises (SMEs) in partner countries.
This new guarantee is designed to support an increased number of companies – companies with a state participation or public organisations – that operate at local or regional levels in partner countries outside of the EU. The novelty about today’s new guarantee is that it can also apply to entities that borrow money from financial markets on their own terms – without State backing. Whereas the previous guarantees used to support only State-backed projects. With today’s new type of guarantee agreement, it will be more flexible and faster to back up investments. Ultimately, the new guarantee will advance Global Gateway investments by financing projects of public interest that are considered too risky for traditional lenders while ensuring affordable borrowing costs for partner countries. The guarantee will support investments in energy, hard infrastructure, economic resilience and SMEs in the North of Africa and the Middle East.
Countries covered:
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Algeria
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Egypt
-
Jordan
-
Lebanon
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Libya
-
Morocco
-
Palestine *
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Syria *
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Tunisia
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