Bank On Nature
On 11 April, the European Commission and the European Investment Bank (EIB) announced the first loan agreement backed by the Natural Capital Financing Facility.
The EUR 6 million loan agreement with Rewilding Europe Capital is expected to provide support for over 30 nature-focused businesses across Europe. Rewilding Europe Capital is Europe’s first conservation and rewilding enterprise financing facility.
With this first project an ambitious new initiative to protect biodiversity and support climate adaptation in Europe has become reality. The Bank on Nature Initiative builds on the Natural Capital Financing Facility (NCFF), an established financing partnership between the European Commission and the European Investment Bank supporting nature and climate adaptation projects through tailored loans and investments, backed by an EU guarantee. It recognises and fosters the business case for investing in natural capital for biodiversity and climate change adaptation purposes.
Karmenu Vella, European Commissioner for Environment, Maritime Affairs and Fisheries said, ‘Nature is essential for our lives, and our economy. The recent successful evaluation of the EU nature directives illustrated this. The rewilding Europe project will be the first of many that the Bank on Nature initiative, building on the Natural Capital Financing Facility (NCFF), will assist in our plans to create rural jobs and protect nature.’
Jonathan Taylor, EIB Vice-President responsible for Climate and Environment said, ‘To safeguard and restore Europe’s precious habitats and wildlife we need to do more. There is a great business case for investing in nature. Biodiversity and economic growth can go hand in hand. As the EU Bank we are committed to investing in projects that support a vibrant rural economy, while also safeguarding our biodiversity and wisely managing natural capital. The Natural Capital Financing Facility is a ground breaking partnership between the EU Bank and the European Commission and this first project with Rewilding Europe Capital gets us off to the best possible start.’