Division 2 Financial parameters and leverageF1

Risk- and revenue-sharing parameters shall be set in such a way that specific policy objectives, including targeting of particular categories of projects, can be achieved while still preserving the market-oriented approach of the Debt Instrument.

The expected leverage of the Debt Instrument — defined as the total funding (i.e. Union contribution plus contributions from other financial sources) divided by the Union contribution — shall be expected to range from 6 to 15, depending on the type of operations involved (level of risk, target beneficiaries, and the debt financing concerned).