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    Reference: 20210152
    Release date: 20 May 2021

    Promoter – Financial Intermediary

    COUNTERPART(S) TO BE DETERMINED

    Location

    Description

    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.

    Objectives

    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.

    Sector(s)

    • 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)

    Environmental aspects

    The fund's operational guidelines will provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

    Procurement

    The fund is expected to comply with the EIB's procurement guidelines.

    Status

    Approved - 22/07/2021

    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 - Asia Industry Solid waste