Press Release: Commission tables proposal for the EIB external mandate until 2013

The European Commission on 21 April 2010 presented its proposal for the external mandate of the European Investment Bank (EIB) for the remainder of the financial perspectives (until 2013). The proposal foresees to activate the €2 billion optional mandate to the fight against climate change. In its proposal the Commission replaces the current system of regional objectives for operations under the EU guarantee with horizontal objectives, while placing more emphasis on development aspects of EIB financing. The Commission also proposes to activate the EIB external mandate for Iceland, Belarus, Libya, Iraq and Cambodia. The proposal will now be discussed by the Council and Parliament.