National Promotional Banks and Institutions (NPBIs)
In the EU, National Promotional Banks and Institutions (NPBIs) are legal entities that carry out financial, development, and promotional activities on a professional basis commissioned by national, regional or local authorities.
NPBIs aim to support their national or regional governmental targets by investing in projects, funds, and companies. Their main goal is to increase the volume of investments and support certain policy areas or address identified market gaps. While NPBIs invest in financially viable projects, they do not always operate on strictly commercial terms as they may also provide blended finance, subsidised interest rates, among others.
NPBIs may act as financial intermediaries for the EIB Group products, primarily focusing on supporting investments in small- and medium-sized enterprises but also certain priority areas for public sector entities in their home countries. Cooperation between the EIB and NPBIs can also target public sector entities (such as municipalities) through dedicated multiple beneficiary intermediated loans (MBILs) or framework loans. NPBIs can receive support from the EIB Group either under the form of intermediated loans extended by the EIB as well as guarantee programmes or equity investments typically provided by the EIF.
Joint Initiative on Circular Economy (JICE)
Along with the EU’s five largest NPBIs, the EIB launched this EUR 10 billion initiative in 2019 to accelerate the transition to a sustainable and circular economy. In April 2024, the EIB announced that the JIICE partners had exceeded their target financing volume for circular economy projects, reaching 11.57 billion euros by the end of 2023. Furthermore, JICE partners welcomed Invest-NL as a new member and made an expanded commitment to reach 16 billion euros by the end of 2025. JICE partners provide loans, equity investments or guarantees to eligible projects.
Partnering banks and institutions in JICE:
What is the relevance for Circular Cities?
Most NPBIs in the EU do not have a specific focus on a certain sector or industry. That means that most are open for financing requests for all different types of sectors and projects, including circular economy initiatives. However, several NPBIs have shown interest in circular economy initiatives (see boxed text).
How to apply?
The application procedure differs among the NPBIs.
NPBIs with relevant CE debt initiatives
In addition to the JICE partners , several other NPBIs are active in the circular economy space. Below is presented a selection of NPBIs that have a specific focus on circular economy projects. This is a non-exhaustive list, and other NPBIs with circular focus or programmes that could be featured in this list are welcome to contact C3@eib.org.
IBB (Germany)
IBB is the business development bank of Berlin. They especially focus on SMEs, start-ups and founders in Berlin. IBB offers loans to companies in all phases of their lifecycle, including start-up, growth, and stabilising.
NWB (Netherlands)
NWB is a Dutch national promotional bank that focusses on the public sector in the Netherlands. Initiatives that support water supply and environmental sustainability are eligible for short- and long-term loans.
SID Bank (Slovenia)
SID is a Slovenian state-owned bank that promotes sustainable and economic development. Among others, they provide long-term loans to municipalities for local public infrastructure, energy efficiency, and housing.
ICF (Spain)
ICF is a public financial institution in Catalonia. ICF supports green and circular initiatives among Catalan public and private entities and self-employed professionals, through its EcoGreen loans.
The Hague, the Netherlands 
