Release date: 24 March 2009
Promoter – Financial Intermediary
Banque de Polynésie S.A.Location
Description
Credit line to Banque de Polynésie S.A. (BDP) for the purpose of financing projects with demonstrable environmental benefits, e.g. renewable energy, energy efficiency, pollution abatement technology, and environmental municipal services. EIB finance will be limited to 50% of the cumulative underlying investment costs of the sub-projects financed.
Objectives
The transaction will enhance availability of credit to sponsors of investments in the environment sector, reduce economically inefficient use of resources at a country level, support SMEs in pursuing environmentally sustainable business practices, and improve access to environmental services among consumers. The transaction has the potential to demonstrate the commercial viability of small to medium sized environment projects in the Pacific and the regulatory frameworks’ conduciveness to investments in sustainable development.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 20 million.
Total cost (Approximate amount)
EUR 40 million.
Environmental aspects
Bearing in mind that this transaction aims to support environmental projects, legal documentation will stipulate the obligation for financial intermediaries to ensure that projects financed under this loan are in line with relevant national and/or EU environmental legislation. A significant part of the Facility will be dedicated to projects with a principle aim to mitigate GHG emissions and thus address climate change.
Procurement
Procedures employed for award of all contracts to be financed by the Bank will be reviewed to ensure that they comply with the Bank’s guidelines.
Status
Signed - 19/10/2009
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).