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.
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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]
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