To benefit from the NIF, a project has to be submitted by a European Public Finance Institution that has been recognised as "eligible" by the NIF Board (currently, the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the Council of Europe Development Bank (CEB), the Nordic Investment Bank (NIB), l'Agence Française de Développement (AFD), the Kreditanstalt für Wiederaufbau (KfW), the Oesterreichische Entwicklungsbank AG (OeEB), the Società Italiana per le Imprese all'Estero (SIMEST), and the Sociedade para o Financiamento do Desenvolvimento (SOFID)).