EIF Restricted sectors and activities

The loan is not allowed to finance and the Project owner can not have more than 50% of total turnover in one or more of the following Restricted sectors and activities:

1. Coal mining, processing, transport and storage;

2. Oil exploration, production, refining, transport, distribution and storage;

3. Natural gas exploration, production, liquefaction, regasification, transport, distribution and storage;

4. Electric power generation including thermal power stations, exceeding the Emissions Performance Standard (i.e., 250 grams of CO2e per kWh of electricity), applicable to fossil fuel-fired power and cogeneration plants. Geothermal plants operating at life cycle emissions higher than 100gCO2e/kWh;

5. Projects in the mining sector, under Section B of NACE (Rev.2), except NACE B8.1, B8.1.1, B8.1.2;

6. Nuclear energy and manufacturing within the nuclear industry (such as processing of nuclear fuel, uranium enrichment, irradiated fuel reprocessing);

7. Hydropower;

8. Waste incineration, collection, treatment and disposal of hazardous waste;

9. Research, development, production and/or commercialization of equipment or infrastructure dedicated to military/police use;

10. Health sector projects with secure or forensic units;

11. For-profit projects in the education sector by kindergarten, primary and secondary schools located outside the European Union;

12. Manufacture of conventionally-fuelled aircraft and related machinery (sub-activity of NACE 30.30);

13. Conventionally fuelled air transport and airports, and service activities incidental to conventionally-fuelled air transportation (sub-activities of NACE 51.10, 51.21 and 52.23);

14. Manufacture of nitrogen compounds and fertilisers containing nitrogen compounds (sub-activities of the NACE code: 20.15).

EIF Excluded sectors and activities

The loan is not allowed to finance and the Project owner must not be involved in one or more of the following Excluded sectors and activities:

1. Prisons and detention centres of any form (such as correctional institutions or police stations with detention facilities).

2. Any activity involving significant degradation, conversion or destruction of critical habitats.

3. Conversion of natural forests into plantations. This includes irrigated forests, logging, clear cutting or degradation of (and commercial concessions over) tropical natural forests or high conservation value forests in all regions, as well as the purchase of logging equipment for this purpose.

4. Extraction of mineral deposits from the deep sea.

5. Extraction or mining of conflict minerals and metals.

6. Animal and human reproductive cloning.

7. Any activity involving live animals for scientific and experimental purposes, including gene editing and the breeding of these animals.

8. Sex trade and related infrastructure, services and media.

9. Projects with political or religious purpose.

10. Production of or trade in weapons and ammunition, including any explosives and sporting weapons.

11. Tobacco: Projects with the purpose of producing, manufacturing, processing or distribution of tobacco.

12. Gambling: Gambling and related equipment, hotels with in-house casinos.

InvestEU Excluded activities

The loan is not allowed to finance one or more of the following Excluded sectors and activities:

1. Activities which limit individual rights and freedoms or that violate human rights.

2. Activities in the area of defence activities, the use, development, or production of products and technologies that are prohibited by applicable international law.

3. Tobacco-related products and activities (production, distribution, processing and trade).

4. Research on human cloning for reproductive purposes; activities intended to modify the genetic heritage of human beings which could make such changes heritable; 

5. Gambling (production-, construction-, distribution-, processing-, trade- or software-related activities).

6. Sex trade and related infrastructure, services and media.

7. Activities involving live animals for experimental and scientific purposes.

8. Real estate development activity, such as an activity with a sole purpose of renovating and re-leasing or re-selling existing buildings as well as building new projects.

9. Financial activities such as purchasing or trading in financial instruments, in particular, interventions targeting buy-out intended for asset stripping or replacement capital intended for asset stripping shall be excluded.

10. Activities forbidden by applicable national legislation.

11. The decommissioning, operation, adaptation or construction of nuclear power stations.

12. Investments related to mining or to the extraction, processing, distribution, storage or combustion of solid fossil fuels and oil, as well as investments related to the extraction of gas.

13. Investments in facilities for the disposal of waste in landfill.

14. Investments in mechanical biological treatment (MBT) plants.

15. Investments in incinerators for the treatment of waste.

We apologize to the representatives of some of these sectors and invite you to apply for Capitalia's financing outside the EIF guarantee!