|Author (Corporate)||European Commission: DG Regional and Urban Policy|
|Series Details||COM (2020) 453|
Legislative initiative published by the European Commission on 28 May 2020, which proposes to set up a public sector loan facility under the Just Transition Mechanism.
The creation of a Just Transition Mechanism was unveiled in the framework of the European Commission's Sustainable Europe Investment Plan (SEIP), the investment pillar of the European Green Deal. One of the elements of the Mechanism was set to be a public sector loan facility for additional investments, leveraged by the European Investment Bank (EIB).
The facility is aimed at supporting public investments, through preferential lending conditions. These benefits are to benefit the territories most negatively affected by the climate transition as identified in the territorial just transition plans for the purposes of the Just Transition Fund (JTF). It includes €1.5 billion in grants from the EU budget and up to €10 billion in loans from the EIB's own sources.
|Subject Categories||Economic and Financial Affairs, Environment, Internal Markets|
|Subject Tags||Climate Change, Cohesion Policy, Sustainable Development|
|International Organisations||European Investment Bank [EIB], European Union [EU]|