Release date: 20 May 2021
Promoter – Financial Intermediary
COUNTERPART(S) TO BE DETERMINED
Equity participation in a private equity fund investing in small and medium-sized enterprises (SMEs) that prevent ocean plastic pollution and advance the circular economy in Asia.
The fund aims to provide equity and quasi-equity support to SMEs that prevent plastic pollution and advance the circulate economy in Asia. The fund will target investments mainly in India, Indonesia, Thailand, Vietnam, the Philippines, and Malaysia. The fund has a focus on companies with positive climate and sustainability impact in line with the objectives of the EIB Climate Bank Roadmap and the Clean Oceans Initiative. The fund will support the achievement of a number of sustainable development goals including SDG13 (Climate Action) and SDG14 (Life Under Water). The fund's target size is up to USD 80-100 million.
- Industry - Manufacturing
- Industry - Water supply; sewerage, waste management and remediation activities
- Solid waste - Water supply; sewerage, waste management and remediation activities
Proposed EIB finance (Approximate amount)
USD 20 million (EUR 17 million)
Total cost (Approximate amount)
USD 100 million (EUR 85 million)
The fund's operational guidelines will provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.
The fund is expected to comply with the EIB's procurement guidelines.
Approved - 22/07/2021
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).