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    Reference: 20220771
    Release date: 8 June 2023

    Promoter – Financial Intermediary

    BLUEORCHARD ASSET MANAGEMENT (LUXEMBOURG) SA

    Location

    Description

    The operation consists in a junior participation in the BlueOrchard InsuResilience Fund II on behalf of the Luxembourg-EIB Climate Finance Platform (LCFP). The Fund targets climate change adaptation and resilience through innovative and high-growth companies operating in the insurance industry.

    Objectives

    The aim is to improve the resilience of poor and vulnerable households, as well as micro, small and medium enterprises to weather events and natural catastrophes. To that end, the Fund will provide financing to portfolio companies that are active or seeking to become active in the value chain for insurance, enhancing the final beneficiaries' resilience to the aforementioned disasters. The portfolio companies need to be based or operating in countries which are eligible to receive Official development assistance (ODA) and which are listed at the time of the respective investment in the OECD Development Assistance Committee list of ODA recipients.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    USD 6 million (EUR 5 million)

    Total cost (Approximate amount)

    USD 100 million (EUR 94 million)

    Environmental aspects

    The beneficiaries of the Fund must comply with environmental and social requirements and the standards of responsible finance.

    Procurement

    Not applicable.

    Status

    Approved - 8/11/2023

    Milestone
    Under appraisal
    Approved
    8 November 2023

    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).

    Related tags

    Regional - Africa Regional - Asia Regional - Latin America Services