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Signature(s)

Amount
€ 4,000,000
Countries
Sector(s)
Egypt : € 4,000,000
Energy : € 4,000,000
Signature date(s)
18/03/2019 : € 4,000,000
Link to source
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Summary sheet

Summary sheet

Release date
5 October 2016
Status
Reference
Signed | 18/03/2019
20160182
Project name
Promoter - financial intermediary
GREEN FOR GROWTH FUND
Finance in Motion GmbH
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 4 million
EUR 500 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Participation in a debt fund targeting energy efficiency and renewable energy investments within the Southern Neighbourhood region

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.

Environmental aspects
Procurement

Most of the current and future projects do not fall under the Environmental Impact Assessment (EIA) Directive 85/337/EEC, as amended, in which case the projects would not be subject to an EIA. If an underlying investment were 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.

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.

Link to source
Summary sheet
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only 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.
Alternatively, the EIB can be contacted through its external offices.
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 Media information section.

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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