November 7 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it is considering an equity investment of 25 million euro ($31 million) in Green for Growth Fund, Southeast Europe (SEE) to support its expanding activities.
The Fund provides senior, subordinated and mezzanine finance to the energy efficiency sector in the Western Balkans, Turkey, Ukraine, Moldova and the Caucasus, the EBRD said in a statement on Thursday.
You can subscribe to our M&A newsletter here
The Fund is operating in cooperation with the European Commission and other investor IFIs, European Investment Bank (EIB), German development bank KfW, the International Finance Corporation, Austria's OeEB and Dutch development bank FMO.
The Fund is contributing to the increase in availability, and therefore access to sustainable energy finance in the region of operations and allows companies to make energy efficiency investments that contribute to reduced pollution, climate change mitigation, reduced energy bills, increased energy security and comfort levels.
Green for Growth Fund, Southeast Europe is an investment company organised under the laws of the Grand Duchy of Luxembourg. The Fund was established in December 2009 by the EIB and the KfW with aim to broaden the financing base of energy efficiency and renewable energy investments in SEE. The mandate of the Fund was extended to Ukraine, Moldova and the Caucasus in 2012.
($=0.8064 euro)