The European Commission, in collaboration with the European Investment Bank (EIB), is launching the new pilot scheme ‘EU Blue Champions’. It will be supported by the BlueInvest platform.
Through this new initiative, the EIB Advisory Services, in collaboration with the EIB Projects Directorate, will provide financial advisory to selected projects in the blue economy. Each project selected should display the potential to contribute strongly to the EU Mission ‘Restore our Ocean and Waters its three objectives:
- Restoring marine and freshwater ecosystems and biodiversity
- Eliminating pollution
- Decarbonising the blue economy
The aim is to identify 20 innovative projects, which have the potential to interest public or private finance providers and possibly qualify for an EIB financing.
To be eligible, projects need to be aligned with at least one of the Mission’s objectives. Other selection criteria will depend on the lending product (e.g. venture debt, corporate loan, project finance) that the project might be considered for.
Find out more here.