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    Reference: 20210056
    Release date: 8 March 2021

    Promoter – Financial Intermediary

    PRIVATE ENTITY(IES),PUBLIC ENTITY(IES)

    Location

    Description

    An investment envelope to support the co-investment by the Bank in projects that could be developed under the DEmand side management, Social Infrastructures, Renewables and Energy Efficiency (DESIREE) blending platform and that would contribute to the goals of DESIREE.

    Objectives

    The envelope will support the participation by the Bank in high-risk projects in African, Caribbean and Pacific (ACP) countries, contributing to greater investments in energy efficiency and electrification of social infrastructure such as schools and hospitals. The operation aims at fostering inclusive socio-economic growth and developing sustainable business models for the provision of clean, climate-friendly and energy-efficient solutions, in line with the developmental goals promoted by the DESIREE blending platform.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 60 million

    Total cost (Approximate amount)

    EUR 120 million

    Environmental aspects

    Full environmental and social details will be assessed during appraisal of the underlying projects, when environmental and social studies may be required by the Bank. In addition, where applicable, details of the originators' capacity to ensure compliance of investments with relevant EU and national regulation and EIB's Environmental and Social Standards will be reviewed during appraisal of the individual sub-operations.

    Procurement

    The Bank will require that the Promoters of the underlying projects ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

    Status

    Approved - 17/06/2021

    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).

    Related tags

    Regional - Africa Energy