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Add to Preferred SourcesLuxembourg received the second part of a 0% fixed rate €300 million loan from the European Investment Bank (EIB).
The financing is part of the financial cooperation between the EIB and the government aimed at making educational infrastructures more energy efficient.
The agreement was signed by the EIB and the Luxembourg government in December 2015.
The first €150 million loan was paid to Luxembourg in July 2017 and the second installment with the remaining €150 million was paid on 28 May.
The Luxembourgish government received a fixed 0% rate on both loans, which will have to be repaid by 28 May 2021.
This initiative is part of the implementation of the COP21 plans agreed upon at the 2015 United Nations Climate Change Conference.
“The government continues to implement an ambitious policy on the energy efficiency of its public buildings. I am delighted by the excellent financial conditions that Luxembourg has been awarded on this loan, which allows us to invest in the future of our country at the best possible price,” finance minister Pierre Gramegna said.
Gramegna added that the agreement was a “good illustration” of the innovative financial instruments available in Luxembourg to join the fight against climate change.
“The government is thus helping to implement the COP21 agreements, while increasing the visibility of Luxembourg as a financial center of reference for sustainable finance,” he said.
In February 2018, the government repaid a loan of €200 million, which was contracted in 2008 for a period of 10 years, at an interest rate of 4.318%.
Original source: Luxembourg Times
Published on 29 May 2018