tlm724
ADMINISTRATOR
Posts : 74615
Join date : 2012-01-01
Location : Vermont
[tlm724] oh this is so good ! Thanks bubbies !
that the priorities of the programs offered by the European Union to Iraq is to bring the European Investment Bank for the recovery of the private sector
The priorities of the programs offered by the European Union to Iraq is to bring the European Investment Bank,
has proved successful in the field of moving the market and the recovery of the private sector economy."
[tlm724] this will help Iraq in a huge way, below is some information about the European Investment Bank
EIB at a glance
The EU's bank
The EIB is the European Union's bank. We are the only bank owned by and representing the interests of the European Union Member States. We work closely with other EU institutions to implement EU policy.
A major player
As the largest multilateral borrower and lender by volume, we provide finance and expertise for sound and sustainable investment projects which contribute to furthering EU policy objectives. More than 90% of our activity is focused on Europe but we also support the EU's external and development policies.
Lending, blending and advising
Lending: The vast majority of our financing is through loans, but we also offer guarantees, microfinance, equity investment, etc.
Blending: Our support helps us unlock financing from other sources, particularly from the EU budget. This is blended together to form the full financing package.
Advising: Lack of finance is often only one barrier to investment. We can help with administrative and project management capacity which facilitates investment implementation.
See "Products section" for our full range of products and services.
Our priorities
We support projects that make a significant contribution to growth and employment in Europe. As part of our counter-cyclical approach, our activities focus on four priority areas:
Innovation and skills
Access to finance for smaller businesses
Climate Action
Strategic Infrastructure
We raise the bulk of our lending resources on the international capital markets through bond issues. Our excellent rating allows us to borrow at advantageous rates. We thus are able to offer good terms to our clients.
Our multiplier effect
We generally finance one-third of each project but it can be as much as 50%. This long term, supportive financing often encourages private and public sector actors to make investment which might not otherwise be made.
What makes the EIB different?
All the projects we finance must not only be bankable but also comply with strict economic, technical, environmental and social standards. Our corps of 300 engineers and economists screens every project, before, during and after we lend. We work hard to be accountable to EU citizens.
Our expertise
Around 2000 staff build on more than 50 years' experience and expertise in project financing. Headquartered in Luxembourg, we have a network of local and regional offices in Europe and beyond.
The EIB Group
The EIB Group consists of the European Investment Bank and the European Investment Fund, – the specialist arm providing SME risk finance. The EIB is the majority EIF shareholder with the remaining equity held by the European Union (represented by the European Commission) and other European private and public bodies.
Strong response to the crisis
When the financial crisis erupted in 2008, the EU asked us to offset falling investment. This led to a more-than one-third increase in the total value of on-going, outstanding loans by 2011. A EUR 10bn capital increase agreed by our shareholders, the EU Member States in 2012, allows for EUR 60bn additional lending in the EU during the 2013-2015 period. This has enabled us to already deliver an exceptional increase in lending in 2013 and provide support to economic recovery in Europe, playing our role to mobilising investment, attracting other investors and rebuilding confidence in the market. As the EU bank, we will continue on this growth-enhancing course as part in the Union’s strategy to address the longer-term consequences of the crisis, as laid out in our three-year operational plan.
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Asia and Latin America
EIB lending in Asia and Latin America (ALA) started in 1993 and is governed by mandates from the European Union (EU). Under the current mandate ALA, covering the period 2014-2020, the EIB is authorised to lend up to EUR 3.4bn for operations supporting the EU cooperation strategies and complementing other EU development and cooperation programmes and instruments in these regions.
The EUR 3.4bn regional ceiling is broken down into indicative sub-ceilings of EUR 2.3bn for Latin America, and EUR 1.1bn for Asia (including EUR 182m for Central Asia). There are no amounts allocated per country.
The countries currently eligible for EIB financing under the ALA 2014-2020 mandate are:
Latin America
Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, Venezuela.
Asia
Bangladesh, Bhutan, Brunei, Cambodia, China, India, Indonesia, Iraq, Laos, Malaysia, Maldives, Mongolia, Myanmar/Burma, Nepal, Pakistan, the Philippines, Singapore, South Korea, Sri Lanka, Thailand, Vietnam, Yemen
Central Asia
Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan
Priority projects
The EIB gives priority to the following types of projects in these countries: 1) climate change mitigation and adaptation (e.g. renewable energy, energy efficiency, urban transport and other projects that reduce CO2 emissions); 2) development of social and economic infrastructure, including water and sanitation; 3) local private sector development, in particular support to SMEs. In addition, to be eligible for Bank financing, projects are required to have good potential to contribute to the economic development of the beneficiary country.
Projects with a total investment above EUR 25m can be financed either directly to a project promoter or indirectly through a government or financial intermediary. Project promoters are required simply to provide the Bank's Operations Directorate with a detailed description of their capital investment together with the prospective financing arrangements. The total investment of a typical project under the ALA 2014-2020 mandate is above EUR 40m.
For smaller projects the EIB can provide credit lines to selected financial institutions, which then on-lend the funds mainly to small and medium-sized enterprises (SMEs). The financial institutions assess each project, assume the credit risk and set the loan conditions for the final beneficiary according to criteria agreed with the EIB. Interested promoters of such projects should contact the banks and intermediaries directly.
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Lifes purpose is not to arrive at the grave in a well preserved body, but rather to slide in sideways shouting HOLY CHIT what a ride
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