European InnovFIN EDP (and successor): Managed by the European Investment Bank (EIB), thisfacility offered commercial loans to bankable demonstration projects. Because the EIB requestsvisibility on future technology sales and high bankability as a prerequisite to granting loans, so faronly one ocean energy project has been awarded an InnovFIN EDP loan. The successor facility toInnovFIN EDP could assume a more classic public loan approach and take on the risks associated withtechnology development that occur prior to first commercial sales. This would be more efficient, moreeffective and would support the technological risk associated with innovation, which private investorshave not yet shouldered.