{
  "url": "https://openlegislation.uk/eu-decision-2018-210/annex/division-5/division-5.3/division-5.3.2/division-5.3.2.2",
  "json_url": "https://openlegislation.uk/eu-decision-2018-210/annex/division-5/division-5.3/division-5.3.2/division-5.3.2.2.json",
  "legislation": "eudn/2018/210",
  "legislation_title": "Commission Implementing Decision (EU) 2018/210 of 12 February 2018 on the adoption of the LIFE multiannual work programme for 2018-2020 (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2018-210",
  "path": "annex/division/5/division/5.3/division/5.3.2/division/5.3.2.2",
  "kind": "division",
  "number": "5.3.2.2",
  "heading": "PF4EE state-of-play and upscale",
  "text": "In 2014 it was expected that the instrument would support investment of up to EUR 540 million. However, following the operations signed in 2015 and 2016 and in view of the current pipeline, the EIB now targets to achieve more than EUR 1 billion of new investments by the end of 2017 (EUR 600-650 million from EIB and at least EUR 500 million from financial intermediaries), covering 9-10 Member States.\nThe six deals signed by the end of 2016 are the following:\nKomercni Banka, Czech Republic: EUR 75 million worth of energy efficiency loans for corporates and lighting systems for buildings and industrial sites,\nBanco Santander, Spain: EUR 50 million worth of energy efficiency loans for hotels and other touristic buildings,\nCredit Cooperatif, France: EUR 75 million worth of energy efficiency loans for SMEs and building renovation,\nBelfius, Belgium: EUR 75 million worth of targeted energy efficiency loans for SMEs,\nBanco BPI, Portugal: EUR 50 million in targeted loans for businesses,\nBPER, Italy: EUR 50 million worth of energy efficiency loans for private sector.\nIn 2017, additional deals could be signed in Croatia, the UK, Greece and Cyprus.\nWhile so far investments on the ground have been supported only in the Czech Republic and France, the strong interest by banks and the increased EIB investment target indicate the underlying market demand and thus the potential for scaling up. In fact, PF4EE is contributing to creating a new financial product in the market targeting energy efficiency and consequently directly contributing to the decarbonisation of the EU economy, in line with the COP21 goals.\nAt the end of 2016, EIB loans committed and disbursed were EUR 375 million and EUR 35 million respectively. As for the instrument's average leverage at the end of 2016, it was 9,8 (calculated as EIB/European Commission contribution).\nDuring the period 2014-2017 the EU contribution committed to PF4EE was EUR 80 million. Over the 2018-2020 period another EUR 75 million are foreseen to continue the pilot phase, of which EUR 10 million are to be ring-fenced for the Expert Support Facility providing technical assistance to financial intermediaries.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2018/210/annex/division/5/division/5.3/division/5.3.2/division/5.3.2.2",
    "retrieved_at": "2026-11-01T15:13:11.900980+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}