Banks from Belgium, Italy and Portugal join the PF4EE instrument

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About one year after the first operations under PF4EE were launched, three more banks entered into an agreement with the European Investment Bank in order to boost energy efficiency investments in their markets.

The new pilot banks include Belfius Bank in Belgium, BPER Banca in Italy and Banco BPI in Portugal. All three banks are supported by adelphi and partners through the PF4EE Expert Support Facility.

With Belfius, the EIB signed an agreement over 75 million euros to boost corporate energy efficiency in Belgium. Loans under this agreement will be available to both businesses and energy service companies (ESCOs). BPI and EIB signed a 50 million euro loan agreement which primarily targets energy efficiency and small renewable energy investments in Portugal’s corporate sector. While the PF4EE loan offered to BPER is equal in size (i.e. EUR 50 million), its targets are more varied, ranging from energy efficiency of buildings and productive structures to district heating systems, public lighting infrastructure and cogeneration.