On Friday, 24 April, the European Commission and several partner development finance institutions announced the creation of the ‘Global Green Bond Initiative (GGBI) Fund’, a new public-private investment tool aiming to mobilise up to €20 billion in private capital for sustainable infrastructure projects in low- and middle-income countries.
This fund, which is part of the European Union’s Global Gateway strategy, is meant to enable green bond markets to develop in the EU’s partner countries and make it possible to finance projects that contribute to climate objectives. The European Commission announced on Friday that [the fund] would prioritise supporting countries, cities, and companies that are issuing green bonds for the first time, especially in the poorest countries.
The ‘GGBI’ consortium is led by the European Investment Bank. It includes the Spanish Agency for International Development Cooperation (AECID), the Italian Development Bank (CDP), the European Bank for Reconstruction and Development, the Dutch entrepreneurial development bank FMO, the German development bank KfW, and the French institution Proparco.
More information: https://aeur.eu/f/lol (Original version in French by Bernard Denuit)