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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.
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.