Green Energy and Growth Fund

European Union
  • Reference: 20120480
  • Release date: 11 June 2013

Promoter – Financial Intermediary

Location

Description

An increase of EIB investment in the Green for Growth Fund, targeting energy efficiency and smaller renewable energy investments in the South-Eastern Europe and Eastern Neighbourhood regions.

Objectives

The fund's mission is to contribute, in the form of a public-private partnership with layered risk-return structure, to enhancing energy efficiency and renewable energy in the targeted regions.

Comments

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 25 million

Total cost (Approximate amount)

EUR 190 million

Environmental aspects

Most of the current and future projects do not fall under the EIA Directive 85/337/EC, as amended, in which case the projects would not be subject to an Environmental Impact Assessment (EIA). If an underlying investment would be subject to an EIA, the fund manager will be required to obtain the non-technical summary of it, and where relevant written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.

Procurement

The fund's investment guidelines will be required to ensure that procurement procedures applied by the underlying investments financed by the fund are in line with the provisions of the relevant Directives and EIB requirements as applicable.

Related Documents (in the Public Register)Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities. Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.

Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Press Corner.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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