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FactsheetEIB financing in Latin America EIB financing in Latin America The EIB is the bank of the European Union. Founded in 1958 under the Treaty of Rome, it operates in the 28 EU Member States and more than 130 other countries. In 2013, it signed loans totalling EUR 71.7bn, with 93% of its financing for projects within the Member States, EFTA, Candidate and Potential Candidate countries. Outside the EU, the Bank supports projects that contribute to economic development in countries that have signed association or cooperation agreements with the EU or its Member States. It does so at own risk to its balance sheet, using budgetary guarantees provided by Member States or under mandates from the European Parliament and Council of the European Union. It is the largest supranational borrower and lender in the world and the only international financial institution politically accountable to EU policymakers and institutions. EIB in Latin America The European Investment Bank has been authorised to lend in Latin America since 1993, when the first mandate for Asia and Latin America (ALA) was approved by the Council of the European Union1. The current mandate (ALA IV), covering the period 2007-13, sets a lending ceiling of EUR 2.9bn for Latin America. In 2011 the EU established a dedicated EUR 2bn Climate Change Mandate (2011-2013) for the Bank to support climate change mitigation and adaptation projects across the regions. Furthermore, in order to supplement the above lending mandates, the EIB established a EUR 4.5bn financing facility, the Energy Sustainability and Security of Supply Facility (ESF)2. This facility is used to support investment projects in emerging countries, for which climate change mitigation is a priority, and in particular in countries with which the EU is developing a strategic partnership such as Brazil and Mexico. This provides extra possibilities for the Bank to support energy and environmental projects of interest to the EU. EIB focus The Bank supports EU external policies in the ALA regions in cooperation with the European Commission and other international financial institutions. EIB financing in Latin America will give priority to the following areas: 1) climate change and mitigation and adaptation (e.g. renewable energy, energy efficiency, urban transport and other projects that reduce CO2 emissions); 2) the development of social and economic infrastructure, particularly energy and associated infrastructure as well as environmental infrastructure, including water and sanitation, and 3) local private sector development, in particular support for 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. 1 The first mandate (ALA I) was for an amount of EUR 750m and ran from February 1993 until February 1996; in 1996 there was an interim mandate of EUR 275m. ALA II ran from January 1997 to January 2000 for an amount of EUR 900m. ALA III ran until January 2007, with a volume of EUR 2.5bn. 2 Set up in 2007 at the EIB’s own risk (i.e., without recourse to the EC budgetary guarantee). Loans signed in Latin America 2007-2013: EUR 3.7bn 644 660 303 300 301 191 365 420 319 Mandate Outside the Mandate 141 79 Since 1993, the Bank has supported 87 projects with a signed total of EUR 6.3bn, in 13 countries in Latin America. Investments in energy, telecommunications and industry were the main sectors and accounted for 35%, 23% and 20% respectively. EIB lending in the period covered by the current mandate 2007-2013 provided finance of EUR 3.7bn in the region for 33 projects. Climate action is the main focus of the EIB’s lending in the region. Central America Climate Change FL II In 2013, the Bank structured a second EUR 175m framework loan in Central America for renewable energy and energy efficiency projects contributing to climate change mitigation in Honduras, Nicaragua, El Salvador, Guatemala, Costa Rica and Panama. The majority of the projects are expected to involve hydropower, wind, geothermal and photovoltaic energy. The EIB provided this loan under the Facility for Energy Sustainability and Security of Supply. © EIB – 10/2014 – EN EUR mPDF Image | EIB financing in Latin America
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