The European Union, the European Bank for Reconstruction and Development (EBRD) and emerging markets asset manager ILX Management have announced a partnership to increase private sector financing in regions where the EU operates, including in Eastern Europe and the Caucasus.

The partnership is expected to facilitate co-financing by Dutch and other European pension funds of up to €300 million over the next three years. The investments will bolster the finance available for sustainable development, particularly in climate-smart solutions, digital transformation and financial inclusion for projects that would otherwise not have benefited from private-sector participation.

European Commission Executive Vice President Valdis Dombrovskis welcomed this partnership backed by the EU budget guarantee. He said that it sets down a new marker in development finance – “a new model that can inspire other international financial institutions and private investors to step up sustainable and green investment”. 

“It will demonstrate that placing capital for such investments in emerging markets can be done at a lower risk than might be expected. And it is a model we intend to build on in future,” said Dombrovskis.

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Press release