Cooperation with the Commission
The EIB has continued to use the blending support offered under the EU External Investment Plan (EIP). In 2017, 25 grants and risk capital fully or partially funded from EU budget for a total sum of nearly EUR 144 million were approved for implementation by the EIB in ELM regions. Of these, EUR 40 million was provided for use as technical assistance, EUR 89 million as investment grants and EUR 15 million as risk capital.
The EIB is also one of the implementing partners for the new EU guarantee offered through the European Fund for Sustainable Development (EFSD). However, the ELM and the EFSD target rather different types of products, borrowers and geographies. For example, the EFSD does not cover Western Balkans while the ELM does not cover large parts of Africa. Moreover, the decision-making process on the EU guarantees provided under the EFSD is different from the upfront 7-year guarantee provided to the EIB for the ELM.
Blending encourages stronger co-financing relations with other international financial institutions (IFIs) and alignment with EU policies and priorities in each respective country context. Moreover, the governance structure of EU blending facilities enables and requires close coordination and cooperation with the Commission, the EEAS and other IFIs before presenting a project for blending of grant resources with EIB lending. This was one of the reasons why the Commission built on the governance of EU blending facilities in its proposal for the European Fund for Sustainable Development Plus (EFSD+) as part of the 2021-27 Neighbourhood, Development and International Cooperation Instrument.
Full report is available below.