What are the EIB disbursement procedures?
An EIB loan facility, once approved by the Board of Directors, can be drawn down in a number of installments, according to the borrower’s requirements. Typically, an EIB facility is available for use over a two to three year period. Disbursements would be usually at short notice, 10 to 15 days following each disbursement request. The maturity, repayment terms and amortisation profile of each draw down installment can be chosen by the borrower at the time of disbursement, facilitating active treasury management. Decisions on timing and choice of currencies, maturities and interest rate formulae are kept open and decided upon at the time of each disbursement request. As such, an EIB facility resembles an MTN programme without set-up costs.
