Initial €600m provided by public finanical institutions with investors expected to contribute the rest by 2011
Europe’s public financial institutions have launched a €1.5bn (£1.36bn) fund to help bring forward infrastructure investments that help towards climate change and energy security measures in the region.
The “Marguerite” fund has initial capital of €600m (£546m) from public institutions which have invited investors will contribute the rest of the capital by 2011.
It aims to act as a catalyst for infrastructure investments implementing key EU policies in the areas of climate change, energy security, and trans-European networks.
In a statement, the European Investment Bank (EIB) said: “The Fund should serve as a model for the establishment of other similar funds in the EU wishing to combine a market-based principle of return to investors with the pursuit of public policy objectives.”
The Marguerite fund will provide equity or quasi equity to companies which own or operate infrastructure in the sectors of transport and energy “trans-European networks”, as well as renewable energy.
An advisory team is currently being appointed and will take submissions for projects and offer advice early next year.