The European Investment Bank (EIB), the Bank of the European Union, and the Kingdom of Bhutan officially acknowledged the ratification of the Country Framework Agreement which allows the EIB to start operations in the country. The EIB operations in Bhutan will significantly expand the existing EU economic support for the Kingdom of Bhutan especially on climate action, climate resilience and energy efficiency. The European Investment Bank will provide long-term financing, advisory support and blend EU grants for projects to support global climate action, climate resilience, and energy efficiency as well as contribute to long-term sustainability, resilience and competitiveness of Bhutanese economy. Country framework agreements are the key precondition for the start of EIB operations in countries outside the European Union.
This The European Investment Bank will provide long-term financing, advisory support, and blend EU grants for projects to support global climate action, climate resilience, and energy efficiency as well as contribute to long-term sustainability, resilience, and competitiveness of Bhutanese economy. Country framework agreements are the key precondition for the start of EIB operations in countries outside the European Union. Outside the European Union, the European Investment Bank contributes to economic development in countries that have association or cooperation agreements with the European Commission. EIB Framework Agreements regulate lending activities that the bank is authorized to do in the respective country. In Asia, the European Investment Bank has so far signed framework agreements with Bangladesh, Cambodia, China, India, Indonesia, Laos, Maldives, Mongolia, Nepal, Pakistan, the Philippines, Sri Lanka, Thailand, Vietnam, and Yemen.