Article 2

1. The resources of the Facility may be used, inter alia, to: provide risk capital in the form of: equity participation in OCTs enterprises, based or not in an OCTs, including financial institutions; quasi-capital assistance to OCTs enterprises, including financial institutions; guarantees and other credit enhancements which may be used to cover political and other investment-related risks, both for foreign and local investors or lenders; provide ordinary loans. 2. Equity participation shall, in general, be for non-controlling minority holdings and shall be remunerated on the basis of the performance of the project concerned. 3. Quasi-capital assistance may consist of shareholders’ advances, convertible bonds, conditional, subordinated and participating loans or any other similar form of assistance. Such assistance may consist in particular of: conditional loans, the servicing and/or the duration of which shall be linked to the fulfilment of certain conditions with regard to the performance of the project; in the specific case of conditional loans for pre-investment studies or other project-related technical assistance, servicing may be waived if the investment is not carried out; participating loans, the servicing and/or the duration of which shall be linked to the financial return of the project; subordinated loans, which shall be repaid only after other claims have been settled. 4. The remuneration of each operation shall be specified when the loan is made. 5. Without prejudice to paragraph 4: in the case of conditional or participating loans, the remuneration shall normally comprise a fixed interest rate of not more than 3 % and a variable component related to the performance of the project; in the case of subordinated loans, the interest rate shall be market related. 6. Guarantees shall be priced so as to reflect the risks insured and the particular characteristics of the operation. 7. The interest rate of ordinary loans shall comprise a reference rate applied by the EIB for comparable loans with the same terms and conditions as to grace and repayment periods and a mark up determined by the EIB. 8. Ordinary loans may be extended on concessional terms and conditions in the following cases: for infrastructure projects in the least developed OCTs, in post-conflict OCTs or in post-natural disaster OCTs that are prerequisites for private sector development. In such cases, the interest rate of the loan will be reduced by 3 %; for projects which involve restructuring operations in the framework of privatisation or for projects with substantial and clearly demonstrable social or environmental benefits. In such cases, 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 %. 9. The final rate of loans falling under point (a) or (b) of paragraph 8 shall, in any case, never be less than 50 % of the reference rate. 10. The funds to be provided for these concessional purposes will be made available from the Facility and shall not exceed the overall allocation for investment financing by the Facility and by the EIB from its own resources. 11. Interest subsidies may be capitalised or may be used in the form of grants to support project-related technical assistance, particularly for financial institutions in the OCTs.

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