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Policy & Regulation

EIB braces for new chapter in energy lending

Gas projects will be considered for EIB loans until the end of 2021, but new projects will find it hard to win approval Gas projects will be considered for EIB loans until the end of 2021, but new projects will find it hard to win approval.
By Andreas Walstad 30 January 2020 Europe & Russia / Policy & Regulation 0 34983
The headquarters of the European Investment Bank in Luxembourg. (EIB)

The clock is ticking for gas projects seeking loans from the European Investment Bank (EIB). The Luxembourg-based lender will officially close the door on new loans to fossil fuel projects on 31 December 2021.

Bank President Werner Hoyer said at a press briefing in Brussels on Thursday that gas projects “already in the pipeline” would be considered for loans before end-2021. But his rhetoric was more dismissive for new projects that have not yet filed an application. “Don’t come up with something new,”...