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Tuesday, November 12, 2019

EIB Donors' Conference: Enhancing cooperation on microfinance and climate action

Environment, Economy - Finances,

News The recently created Financial Inclusion Fund is providing €3.6 million to facilitate financial services in ACP countries. The Luxembourg-EIB Climate Finance Platform is extended for another five years with an additional contribution of €40 million.

The new trust fund aims to facilitate access to financing services for small and very small enterprises in the ACP region's least developed and low- and middle-income countries. The fund, which focuses mainly on technical assistance, is expected to strengthen the capacity of EIB counterparties in the field of microfinance, making them more viable and robust. Other donors may make contributions to it.

The Luxembourg-EIB climate finance platform, to which the Grand Duchy of Luxembourg had initially contributed €30 million, has been investing since 2017 in projects with a high impact in the fight against climate change. The partners have now decided to extend their cooperation, with Luxembourg having committed an additional €40 million to the fund and have decided to extend the life of the fund until 31 December 2024 and open it to contributions from other donors.

Source :  Press room - European Commission


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