European Commission & EBRD sign agreement to unblock €2.1 bn finance

The European Commission and the European Bank for Reconstruction and Development (EBRD) have signed an InvestEU guarantee agreement that will unlock EBRD finance of up to €2.1 billion for investments in green economy, sustainable infrastructure, and digitalisation, as well as research and innovation in the European Union (EU). The agreement is worth up to €450 million.

The EBRD will use this guarantee to mobilise investments across a wide range of sectors, including energy, digital connectivity, circular economy, and low carbon technologies. It will also support investments in bioeconomy, research and digitalisation, critical raw materials value chain solutions, life science, and sustainable blue economy. These investments will help the EU to achieve its broader strategic objectives of securing the green and digital transitions.

The European Commission and the European Bank for Reconstruction and Development (EBRD) have signed an InvestEU guarantee agreement that will unlock EBRD finance of up to €2.1 billion for investments in green economy, sustainable infrastructure, and digitalisation, as well as research and innovation in the EU. The agreement is worth up to €450 million.

The projects will cover Bulgaria, Croatia, Czechia, Estonia, Greece, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia.

With this agreement, the EBRD becomes an InvestEU implementing partner. InvestEU provides an EU budgetary guarantee to implementing partners to increase their risk-taking capacity and therefore contributes to mobilising public and private investment in line with the EU’s policy priorities.

“InvestEU is supporting investment across the EU that will help us to deliver on our common priorities, notably for the green and digital transitions. The EBRD has a long history of channelling investment to regions where it is most needed. I am delighted that, with today’s agreement, the EBRD has become an InvestEU implementing partner. Together, we can supply the necessary investment to make crucial projects in key sectors realise their full potential to support economic development and create high quality jobs,” said Paolo Gentiloni, European commissioner for economy.

“The EBRD is a very strong partner of the EU, and this agreement will allow us to push forward our common agenda for stronger EU economies and catalysing private investments in crucial areas such as green, connectivity, and innovation. We are truly delighted for the beginning of our InvestEU cooperation,” said Odile Renaud Basso, the EBRD’s president.

Fibre2Fashion News Desk (DP)