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A political agreement by the European Parliament and the Council was reached on April 26 on the Commission’s proposal for a new Public Sector Loan Facility (PSLF) to support the green transition in Europe to achieve the Union’s 2030 climate targets and a EU climate neutrality by 2050 at the latest.
With this, all the proposals of the Just Transition Mechanism (JTM) have been agreed, and are pending the final approval by the European Parliament and the Council.
The Facility specifically targets public entities, creating preferential lending conditions for projects that do not generate sufficient revenue to be financially viable. It consists of a combination of grants (€1.5 billion) from the EU budget and loans (€10 billion) provided by the European Investment Bank (EIB). The grant support will be added to the EIB loan and reduce the financial burden for beneficiaries and increase the attractiveness of the investments concerned. Advisory support will be provided to beneficiar