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Bank On Nature

The European Commission and the European Investment Bank (EIB) announced on 7 April 2017 the first loan agreement backed by the Natural Capital Financing Facility (NCFF), a financing partnership between the Commission and the EIB supporting nature and climate adaptation projects through tailored loans and investments, backed by an EU guarantee. Today’s agreement will see Rewilding Europe Capital receive a EUR 6 million loan to provide support for over 30 businesses across Europe, focused on restoring and protecting natural areas. This will support and is in line with the upcoming Action Plan of the Commission to improve the implementation of the EU’s Habitats and Birds Directives and is expected to create hundreds of new jobs. Karmenu Vella, 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 NCFF, will assist in our plans to create rural jobs and protect nature”. The rewilding areas concerned are: Western Iberia (Portugal), Velebit Mountains (Croatia), Central Apennines (Italy), Southern Carpathians (Romania), Danube Delta (Romania), Rhodope Mountains (Bulgaria), Oder Delta (Germany/Poland) and Lapland (Sweden). A signing ceremony with Vice-President Katainen, Commissioner Vella and EIB Vice-President Taylor will take place today 11 April 2017.

Source: EC Press

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