The European Investment Bank plans to increase the support for the Green to Growth Fund, which focuses on new investment in small scale energy efficiency and renewable energy projects in Morocco, Egypt, Tunisia, Jordan and the Palestinian Territories.
The projects can significantly reduce the energy consumption and CO2 emissions in a region, which is using the fossil fuels to large degree, has a few installed renewable energy sources, and has implemented energy efficiency programmes in a limited way.
The Green for Growth Fund provides credits to local financial and non-financial intermediaries who cooperate with local partners and invest in renewable energy and energy efficiency projects.
The EIB has approved addition contribution of EUR 25 million to the fund. Over the last six years, the bank provided EUR 50 million.
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