European Investment Bank

The European Investment Bank is responsible for:

• Auctioning the allowances which provide the resources of the Modernisation Fund; these allowances will be auctioned in equal annual volumes from 2021 to 2030, in accordance with the Auctioning Regulation
• Confirming whether an investment is a priority or a non-priority one
• Conducting financial and technical due diligence of non-priority investments, including an assessment of the expected emission reductions
• Managing the assets of the Modernisation Fund
• Transferring the respective resources to the beneficiary Member States following the disbursement decision of the Commission, and keeping track of the use of Member State resources
• Providing the secretariat of the Investment Committee