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Lessons learnt on financing from the Covenant of Mayors – Financial Institutions Instruments

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Financial instruments are a type of financing often characterised by the combination of EU funds and public or private sector finance, above all banks, but also credit unions, savings, and loans associations or investment companies. Such a cooperation aims to trigger investments on the ground to deliver policy objectives, such as economic, social and territorial cohesion and support environmental policy, such as climate action.

In Europe, the European Investment Bank is one of the main banks which supports cities’ climate ambition, how - ever national banks also have a strong role to play in sup - porting the financing of Covenant of Mayors signatories Sustainable Energy and Climate Action Plan (SECAP).
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Eugenia Mansutti