In a collaboration, the European Commission, in partnership with the European Investment Bank (EIB), announces the launch of the ‘EU Blue Champions’ scheme. This initiative, supported by the BlueInvest platform, aims to propel innovative projects in the blue economy to new heights.

Key Highlights:

• Financial Advisory Support: The EIB Advisory Services, in tandem with the EIB Projects Directorate, will extend financial advisory support to selected projects within the blue economy.
• Alignment with EU Mission: The chosen projects will align with the EU Mission ‘Restore our Ocean and Waters,’ focusing on three pivotal objectives: restoring marine and freshwater ecosystems, eliminating pollution, and decarbonising the blue economy.
• Ambitious Goals: The initiative seeks to identify 20 innovative projects with the potential to attract public or private finance providers, potentially qualifying for EIB financing.
• Selection Criteria: Projects must align with at least one of the mission’s objectives and meet additional criteria based on the lending product considered (e.g., venture debt, corporate loan, project finance). These criteria include a minimum investment size, a sustainable business model, and a clearly defined business plan.
• Application Details: While no formal application process is outlined, interested project promoters are encouraged to fill out the template with their project details and submit it to the EIB Advisory team at corporatefinanceadvisory@eib.org before January 31, 2024.
• InvestEU Advisory Hub: Only projects eligible for support under the InvestEU Advisory Hub will be considered. It’s essential to note that this call for interest does not represent a commitment by the EIB to provide financing or advisory support to any submitted projects.

This initiative presents a unique opportunity for pioneers in the blue economy to receive financial advisory support, potentially securing EIB financing. Whether you’re a project promoter or an enthusiast, explore the possibilities and contribute to the EU Mission ‘Restore our Ocean and Waters.’

For more details, visit https://blue-economy-observatory.ec.europa.eu/news/blue-economy-launch-eu-blue-champions-scheme-support-innovative-projects-2024-01-18_en