Withdrawal Agreement European Investment Bank

Preparing for the UK`s withdrawal from the European Union, whatever the scenario, is everyone`s business. The withdrawal will change relations and have a significant impact on EU citizens and businesses in 27 Member States, some of which cannot be corrected. ยท As far as energy efficiency is concerned, the transformation of the EU 2030 target (percentage) into absolute values must be adapted to take account of the UK`s withdrawal. Negotiations for a withdrawal agreement are ongoing. It supported a total investment of 280 billion euros, 31 percent of which was spent on climate-related projects. The EIB has set a target of funding half of its funding for climate projects by 2025. It has set a target of achieving 1 billion euros of climate investment by 2030. At EU level, examples of precautionary measures are the relocation of deciving agencies based in London and the reallocation of tasks from the British authorities to the EU-27 authorities. These are necessary independently of an agreement with the United Kingdom, as it is not possible to entrust such tasks to the Eu or to the admission of EU institutions to a third country. The notices set out the situation in the sector concerned after the withdrawal. They rely exclusively on the real and legal situation that would prevail after withdrawal without a readmission agreement and do not contain an interpretation of the outcome of the negotiations or its impact on the rules of a given sector. If the legal situation evolves in order to conclude a withdrawal agreement with the United Kingdom or as a result of a change in the legislation in question, the notices are adapted or withdrawn when they are no longer relevant.

This means that we will continue to be responsible for the investment projects that the EIB has previously put in place and that we will continue to roll out this year. That is a liability that could reach $160 billion over the next two decades. In addition, most of these investments and loans are linked to countries in economic difficulty. As a result, there is a very real possibility for these countries to delay their loans – which makes us very vulnerable to liability payments. Since the UK joined the European Community in 1973, the EIB has allocated almost EUR 120 billion to projects in the United Kingdom. Many of them are emblematic transport infrastructure projects such as the Channel Tunnel and the second Severn junction, but in recent years the EIB has expanded its coverage to include “social” sectors such as education (schools and universities), health and housing.