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EU Parliament and Council agree on PSLF to support the green transition in Europe

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

BETTER FINANCE - Commissioner Mcguinness: Putting People At The Heart Of The Financial System Is Part Of My Vision

Date 26/04/2021 On 22 April at the BETTER FINANCE’s international conference, high-level speakers and over 350 registered participants debated “How to make the EU Capital Markets Union (‘CMU’) work for people?”.     For the CMU to succeed, putting equities back at the heart of the EU economy funding and reducing the reliance on bank funding, European citizens and households as long-term savers and individual investors need to be at its heart. As the main source of long-term capital, EU households have a key role to play. But inviting EU savers to participate more directly in capital markets comes with a certain responsibility: investing in the EU’s CMU must be safe, fair, and trustworthy. 

ECB will act on unwarranted rise in borrowing costs, its VP says | Hellenic Shipping News Worldwide

ECB will act on unwarranted rise in borrowing costs, its VP says The European Central Bank will act on any “detrimental” rise in borrowing costs and considers removing stimulus too early a bigger risk than acting too late, ECB Vice President Luis de Guindos said on Wednesday. With borrowing costs rising last month, the ECB stepped up bond purchases to cap yields but some policymakers are now discussing a cut in bond purchases once the pandemic is brought under control in the second half of the year. “At the moment, risks from the early withdrawal of policies are higher than the risks associated with keeping support measures in place,” de Guindos told a hearing of the European Parliament’s Committee on Economic and Monetary Affairs.

ECB will act on unwarranted rise in borrowing costs, its VP says

By Reuters Staff 2 Min Read FILE PHOTO: Vice-President of the European Central Bank (ECB) Luis de Guindos gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool via REUTERS FRANKFURT (Reuters) - The European Central Bank will act on any “detrimental” rise in borrowing costs and considers removing stimulus too early a bigger risk than acting too late, ECB Vice President Luis de Guindos said on Wednesday. With borrowing costs rising last month, the ECB stepped up bond purchases to cap yields but some policymakers are now discussing a cut in bond purchases once the pandemic is brought under control in the second half of the year.

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