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CDP, EIB and the main National Promotional Institutions launch the successor fund to Marguerite I: 700 million euro for sustainable infrastructure projects
Marguerite II, the new pan-European fund sponsored by CDP, EIB and the main National Promotional Institutions is channelling 700 million euro into the development of infrastructure projects with a focus on greenfield sites.
The new instrument aims to continue Marguerite I’s mission to support infrastructure investment in energy, renewables, transport and ICT.
From energy efficiency to renewables, through high speed internet browsing and the optimisation of transport networks, the fund’s areas of activity will focus on the sectors specified by the European policy agenda on sustainable development.
CEO Fabio Gallia said: “Facilitating the development of new sustainable infrastructure with a pan-European approach is the goal that CDP shares with Marguerite II, marking another success in the field of impact finance. The renewed partnership with the other National Promotional Institutions and the EIB will give the Fund the capacity to contribute to fulfilling the infrastructure investment needs necessary to stimulate the competitiveness of national economies”
With a commitment of 700 million euro, the new fund will continue the mission of Marguerite I. It will run for 10 years, with an option to extend it for another two years, and will seek to achieve the investment target in five years.
The total was raised through the efforts of the EIB, which invested 200 million euro, and the main National Promotional Institutions - CDP, BGK, CDC, KfW and ICO, which together provided the fund with 500 million euro (100 million euro each).
Marguerite II is the successor fund to Marguerite I, which helped realise 20 infrastructure projects in 12 European Union member states, from wind farms in Belgium, Germany, Romania and Sweden to solar power plants in France and biomass in Portugal to new transport infrastructure in Croatia, Ireland, Italy and Spain, digital projects in France and Italy, facilities for the transmission and storage of gas in Latvia and a waste to energy plant in Poland.
Marguerite II will also encourage the opening of new infrastructure projects and the expansion of existing initiatives, in line with the objectives of theInvestment Plan for Europe and of the EFSI.
The launch of the new fund confirms CDP's commitment to sustainable development, a strategic sector for the social and economic growth of countries, capable of promoting progress and competitiveness at a national and international level.