Article 2

1. The EIB shall: contribute, through the resources it manages, to the economic and industrial development of the OCTs on a territorial and regional basis and, to this end, finance as a priority productive projects or other investments aimed at promoting the private sector in all economic sectors; establish close cooperation links with national and regional development banks and with banking and financial institutions of the OCTs and of the Union; in consultation with the OCTs concerned, adapt the arrangements and procedures for implementing development finance cooperation, as set out in this Decision, if necessary, to take account of the nature of the projects and to act in accordance with the objectives of this Decision, within the framework of the procedures laid down by its statute. 2. Financing from the EIB’s own resources shall be granted under the following terms and conditions: the reference rate of interest shall be the rate applied by the EIB for a loan with the same conditions as to currency, repayment period and securities on the day of signature of the contract or on the date of disbursement; however: in principle, public sector projects shall be eligible for an interest rate subsidy of 3 %; for private sector projects which involve restructuring operations in the framework of privatisation or for projects with substantial and clearly demonstrable social or environmental benefits, loans may be extended with an interest rate subsidy the amount and form of which will be decided with respect to the particular characteristics of the project. However, the interest rate subsidy shall not be higher than 3 %. the final interest rate shall, in any case, never be less than 50 % of the reference rate. the amount of the interest rate subsidy calculated in terms of its value at the times of disbursement of the loan shall be charged against the interest subsidy allocation laid down in Article 2(11) of Annex IV, and paid directly to the EIB. Interest subsidies may be capitalised or used in the form of grants to support project-related technical assistance, particularly for financial institutions in the OCTs. the repayment period of loans made by the EIB from its own resources shall be determined on the basis of the economic and financial characteristics of the project, but may not exceed 25 years. These loans shall normally comprise a grace period fixed by reference to the construction period of the project. 3. For investments financed by the EIB from its own resources in public sector companies, specific project-related guarantees or undertakings may be required from the OCTs concerned.

← anx_III__art_1__para · All articles · anx_III__art_2__para →

Source: EUR-Lex (Cellar) · retrieved 2026-11-02 · Text as adopted (Official Journal); later amendments are not incorporated in this text.