Press Release: European Commission and EIB welcome adoption of new mandate for lending outside the EU

The European Commission and the European Investment Bank have welcomed the final adoption of new legislation on EIB lending outside the EU on the basis of an EU budgetary guarantee. The new mandate streamlines the objectives of EIB lending and provides for additional resources to tackle climate change and to support the EU’s Southern and Eastern neighbours. The new mandate is expected to enter into force on 1st November 2011.