GLOBAL GATEWAY FUND (GLGF)

Promoteur – Intermédiaire Financier

EUROPEAN INITIATIVE ON CLEAN RENEWABLE ENERGY ENERGY EFFICIENCY AND CLIMATE CHANGE RELATED TO DEVELOPMENT SICAV SIF

Lieu

• Régional - Asie
• Régional - Afrique
• Régional - Amérique latine
• Ensemble des Pays Méditerranée

Description

The project concerns EIB's contribution to the launch of a new Global Gateway Fund (GGF). GGF is a flagship initiative supporting the EU's Global Gateway strategy, operating as a fund-of-funds focussed on high impact equity and debt operations in emerging markets.

Additionality and Impact

The Global Gateway Fund ("GGF") is a new flagship initiative that contributes to the EU's Global Gateway strategy. It is presently in the initial stage of creation and will operate as a fund-of-funds focussed on high impact equity and debt operations in emerging markets.

The Global Gateway Fund will contribute to the goals of the European Union's Global Gateway Initiative, which stands for sustainable and trusted connections that work for people and the planet. It will help to tackle the most pressing global challenges, from fighting climate change, to improving health systems, and boosting competitiveness and security of global supply chains. 

GGF is aligned with the Joint Communication of the EU High Representative for Foreign Affairs and Security Policy to the European Parliament, the Council, the European Economic and Social Committee (EESC), the Committee of the Regions and the EIB on 1 December 2021. In particular, it will contribute to the EU's ambition to attract private capital under Global Gateway via innovative structure.

The EIB has been key in the setup of GGF as a new initiative and will act as Investment Advisor to GGF. GGF will in turn benefit from EIB's experience and expertise in equity investments, project finance and other structured debt financings in emerging markets. This will ensure the good quality of the underlying operations.

Objectifs

GGF will support private sector operations, with the following indicative allocations: 40% to infrastructure funds, 40% to small and medium-sized enterprises (SME) funds and 20% to project finance or other structured debt financings with quasi equity risk. The infrastructure and SME funds will in turn provide equity, quasi-equity, debt or bridge financing to sustainable infrastructure projects, project companies or corporates acting in clean energy, sustainable transport, connectivity, supply chains and human development in emerging markets.

Secteur(s)

• Services - Activités financières et d'assurance

Montant BEI envisagé (montant approximatif)

EUR 300 million

Coût total (montant approximatif)

EUR 400 million

Aspects environnementaux

GGF will operate in line with the EIB's environmental and social standards.

Passation des marchés

The EIB's relevant procurement guidelines will apply to the relevant investments made by GGF.

Statut

Signé - 23/12/2022