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 2017, its total investment in climate action projects and programmes was over EUR 19 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.
The EIB will propose operations for GCF funding which have significant mitigation or adaptation benefits. The Bank’s proposals will be guided by Intended Nationally Determined Contributions put forward by countries and other relevant planning documents at national or local level. A wide range of instruments is possible, including project and intermediated lending, donor resources for technical assistance, investment grants and financial instruments, as well as risk capital investments. In addition to its lending and blending activities, the EIB has extensive experience in providing advisory services to its clients and houses sector and climate experts to support project identification, design and implementation, and to monitor projects’ outputs, outcomes and impacts.