EIB, ING fund shipping sector transition to ‘greener future’

EIB, ING fund shipping sector transition to 'greener future'

The European Investment Bank (EIB) and ING today signed an agreement to support green investments for the European shipping market for a total value of €300 million ($370.6 million).

ING and EIB will each contribute €150 million to the facility that aims to aid the transition of the shipping sector to a “greener future,” as EIB president Werner Hoyer said. The €300 million facility will be invested with the EIB gradually over the next three years.

The investment is made under the Green Shipping Guarantee (GSG) programme, which is supported by the EU’s Connecting Europe Facility (CEF) Debt Instrument and the European Fund for Strategic Investments (EFSI).

The programme is designed both for general fleet renewal and the retrofitting of ships with sustainable technologies (such as LNG, ballast water, energy efficiency).

EIB notes that the facility is available to clients with significant European interests, and can be used for projects with a green innovation element covering the construction of new vessels or retrofitting of existing vessels. It applies to both inland shipping and seagoing operators.

This sector risk-bearing facility is meant for projects that will improve the environmental performance of transport vessels in terms of reducing the emission of pollutants as well as increasing fuel efficiency.

Projects should be presented to ING and will be subject to ING’s financial and non-financial risk acceptance criteria.

Share this article

Follow LNG World News

Posted on February 20, 2018 with tags , .

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Central and Eastern Europe SSLNG Forum

SSLNG projects are important for Central and Eastern Europe (CEE) because they offer opportunities for solving issues…

read more >

Klaipeda LNG Forum 2019

Klaipėda LNG forum 2019 organised by Klaipėda Science and Technology Park, Klaipėdos nafta and Embassy of the Netherlands will take place on the 15-16 May at Klaipėda Castle’s site hall, Lithuania.

read more >

Flame 2019

Flame is Europe’s largest gathering of midstream gas & LNG players, bringing together everyone who matters – from producers to utilities, purchasers, infrastructure providers, traders, regulators and policy makers.

 

More info

read more >