ATOME, the leading developer of international green fertiliser projects, has announced that the Board of the European Investment Bank (EIB), the lending arm of the European Union, being part of ATOME's consortium of senior debt providers, has approved a financing in-principle of up to US$135 million for the flagship Villeta Project.

EIB is one of ATOME's senior debt providers for Villeta and the announcement follows the Green Climate Fund approval earlier this month.

Details of the financing will be finalised in early course, following regular Stage II processes and closing of the debt package together with the consortium of leading international development finance institutions

Olivier Mussat, CEO, ATOME, said: "The European Investment Bank board's in-principle approval of US$135 million senior debt finance is another important milestone in the Villeta Project's maturity, credibility and genuine climate objectives.

“EIB is one of the largest providers of climate finance in the world and we are pleased to have EIB as one of the key supporters of this impactful, first-of-a-kind project.

The equity component of the project is coming through with target closing and FID remaining end of September."