European Investment Bank Adopts New Energy Lending Policy

7 January 2020, Lexology

On 14 November 2019, the Board of Directors of the European Investment Bank (“EIB”), the world’s largest multilateral bank, adopted a new Energy Lending Policy (the “Policy”), which aims to end EIB investment in the majority of fossil fuel programs by the end of 2021. The Policy signals a change in the flow of capital from multilateral banks into greener energy investments and seeks to incentivize technological innovation. The plan is ambitious and will be a key consideration for energy companies seeking funding from the EIB going forward. Source : European Investment Bank Adopts New Energy Lending Policy