EIB and Others Launch Infrastructure Fund
4 December 2009: The European Investment Bank (EIB) and other European leading public financial institutions have launched "Marguerite," a pan-European equity fund that 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. The EIB also agreed to provide a EUR 40 million loan to FirstRand Bank to promote energy efficiency and renewable energy projects across South Africa.
The Marguerite Fund will have an initial capital of EUR 600 million and targets to reach EUR 1.5 billion for final closing in 2011. It aims to 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.[EIB Press Release, 4 December][EIB Press Release, 1 December]