Brussels, 10/05/2016 (Agence Europe) - Shored up by the success of the Ginkgo 1 fund, the EIB signed a new agreement on Wednesday 11 May to support the launch of the Ginkgo 2 fund, confirming its objective of raising a total of €140 million by the end of the year.
The European Investment Bank (EIB) and the Caisse des Dépôts decided to renew their trust in Ginkgo by pledging up to €30 million each in the fund. The Edmond de Rothschild group has also invested a sum of nearly €10 million.
Bruno Farber, Director General of Ginkgo, welcomed the decision and stated in a press release that the “success of the launch of Ginkgo 2 was made easier by the very strong loyalty of our historic subscribers (…) virtually doubling their commitments”.
The Ginkgo 2 fund, which focuses on the sustainable rehabilitation of industrial wastelands in urban areas, enjoys the support of the European Fund for Strategic Investments (EFSI), the cornerstone of the investment plan for Europe. “The support of the EFSI has allowed the EIB to invest in the Ginkgo 2 fund more quickly and thereby attract private investors”, said Vice-President of the European Commission Jyrki Katainen.
The fund, which is a key player in refurbishing polluted urban sites, will be active principally in France and Belgium. It will create 350,000m² of acquirable rights, or around 5,000 homes and 8,500 full-time equivalent jobs. EIB Vice-President Ambroise Fayolle stresses that “this EIB funding shows that the Investment Plan for Europe, the Juncker plan, is developing in the heart of French cities, and on the very most important economic and social priorities, such as jobs and housing”. (Original version in French by Maëlle Didion)