EU and EBRD commit to accelerate green investments in the Southern Mediterranean

December 4, 2023
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At the occasion of the COP28 Meeting in Dubai, the EU and EBRD stated their commitment to accelerate green investments in the Southern Mediterranean, Türkiye, the Eastern Partnership and the Western Balkans with the signing of statements of intent for two guarantee schemes to be funded by the European Fund for Sustainable Development Plus (EFSD +).

The € 60 million Municipal, Infrastructure & Industrial Resilience guarantee will support EBRD’s lending to corporates and public utilities in the EU’s Eastern and Southern Neighbourhood, as well as in Türkiye, for investments in green technologies, transport and logistics sectors, and to improve energy efficiency.

The €168 million HI-BAR guarantee will allow the EBRD to accelerate investments in climate mitigation measures and innovative green technologies, including investments into green hydrogen and critical raw materials.

The implementation of these guarantee schemes will contribute to cleantech development, which is central to achieving climate neutrality and the goals of the Paris Agreement. Enhanced cleantech cooperation and investment in strategic infrastructure projects will stimulate economic growth and socio-economic resilience, and at the same time foster the green transition.

For more information

Countries covered:

  • Algeria
  • Egypt
  • Israel
  • Jordan
  • Lebanon
  • Libya
  • Morocco
  • Palestine *
  • Syria *
  • Tunisia