The European Investment Bank (EIB) has recently announced a framework agreement to support the activities of the EIB Project Advisory Support Team (PAST) in their efforts to provide technical assistance to project promoters, especially those operating in the European Union’s neighbourhood countries.
The EIB PAST was established in 2018 to provide professional, technical, and financial expertise to support sustainable investment projects in the EU neighbourhood and beyond. The team is composed of seasoned professionals with extensive experience in various fields, including engineering, finance, and legal aspects of project management.
The new framework agreement will provide the EIB PAST with a solid foundation to further support project promoters through a range of activities, such as due diligence, risk assessment, and financial structuring. This support will be extended to projects across various sectors, including energy, transportation, and social infrastructure.
Under the agreement, the EIB PAST will provide technical assistance to project promoters in the form of expert advice, capacity building, and training programmes. The team will also help develop project pipelines and provide support in the preparation of project proposals and feasibility studies.
The EIB PAST will work closely with project promoters to ensure that projects align with the bank’s priorities, including climate action, sustainable development, and job creation. This is especially important in the current context of the COVID-19 pandemic, which has brought about significant economic and social challenges.
This framework agreement demonstrates the EIB’s continued commitment to supporting sustainable investment projects in the EU neighbourhood and beyond. By providing technical assistance to project promoters, the EIB PAST can help ensure that investments are sustainable, profitable, and aligned with EU priorities, contributing to the achievement of the Sustainable Development Goals.
In conclusion, the EIB framework agreement to support the activities of the PAST team is a significant step towards supporting sustainable investment projects in the EU neighbourhood and beyond. With the assistance of the PAST team, project promoters can benefit from expert advice, capacity building, and training programmes to ensure that investments are sustainable, profitable, and aligned with EU priorities.