Release date: 12 November 2015
Promoter – Financial Intermediary
INSTITUTO DE CREDITO OFICIAL (through Axis)Location
Description
The project is a public-private equity fund established in 2011 and currently going through its investment period.
Objectives
Flagship operation between Instituo de Credito Oficial (ICO) and the EIB who will share equity risk in infrastructure investments through an Axis fund. This is the first operation with these characteristics and will help Spanish sponsors to revitalise the project finance sector in Spain and the EU.
Sector(s)
- Transport - Transportation and storage
- Energy - Electricity, gas, steam and air conditioning supply
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 250 million
Environmental aspects
The fund manager will carry out an assessment with regard to the investments which the fund manager considers to be EIB-eligible in order to come to the reasoned conclusion that environmental and social impact has been duly addressed and the projects are acceptable in environmental and social terms. Within the EU, the applicable EU directives on environmental and social matters in force at the time should be complied with.
Procurement
The fund's investment guidelines will be required to ensure that procurement procedures applied in the underlying investments financed with proceeds of the EIB loan are in line with the provisions of EU procurement directives.
Status
Signed - 12/05/2016
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).