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European investors agree new joint climate change fund

2010

A new climate change fund aiming to attract investment to green projects and technology is to be established by a group of European finance institutions.

The Agence Française de Développement (AFD), the European Investment Bank (EIB) and European Development Finance Institutions (EDFI) have agreed to jointly set up an investment-matching facility to invest in private sector climate change projects throughout the third world before the end of 2010.

‘Partners will seek to demonstrate the financial attractiveness of climate-friendly projects to private sector investors in developing countries and emerging markets and will commit to act as catalyst lead investors to attract additional long-term investments,’ according to a statement by the EIB.

Fourteen institutions, including the UK government’s part-privatised CDC, Germany’s DEG and the Norwegian Norfund, will help fund the initiative, to be called the Interact Climate Change Fund.

All institutions have agreed to promote the use of clean technology and to provide financing for renewable energy projects in countries facing energy shortages.



Further Information
http://ethicalp.com/climatefund
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