EIB and Luxembourg Launch €5 Million Investment to Back Ocean-Based Climate Projects in Island States

EIB and Luxembourg Launch €5 Million Investment to Back Ocean-Based Climate Projects in Island States

(IN BRIEF) The European Investment Bank, through EIB Global and in collaboration with the Government of Luxembourg, is investing €5 million via the Luxembourg-EIB Climate Finance Platform into the Outrigger Impact Fund I, a new initiative focused on supporting Small Island Developing States (SIDS) through sustainable blue economy projects. Managed by UK-based Outrigger Impact, the $100 million fund will provide debt and equity financing to sectors such as ocean conservation, renewable energy, sustainable aquaculture, and ecotourism. Structured as junior equity, Luxembourg’s investment aims to de-risk pioneering climate projects and attract private capital to regions most vulnerable to climate change. Announced during the 2025 UN Ocean Conference, this effort aligns with EU climate priorities under the Global Gateway Investment Agenda and is expected to yield environmental and economic benefits by empowering island nations that collectively oversee more than 30% of the world’s oceans.

(PRESS RELEASE) LUXEMBOURG, 9-Jun-2025 — /EuropaWire/ — The European Investment Bank’s development arm, EIB Global, is partnering with the Government of Luxembourg to channel €5 million into the Outrigger Impact Fund I through the Luxembourg-EIB Climate Finance Platform (LCFP). This strategic investment aims to support Small Island Developing States (SIDS) in building resilience to climate change by fostering a sustainable ocean economy—commonly referred to as the “blue economy.”

The €5 million commitment, made in the form of junior equity, will be managed by EIB Global to ensure effective deployment and impact. The Outrigger Impact Fund I, managed by UK-based Outrigger Impact, targets a total size of $100 million and will provide both debt and equity financing to projects in key ocean-based sectors such as marine conservation, sustainable aquaculture, offshore renewables, and ecotourism.

Announced at the 2025 United Nations Ocean Conference in Nice, the partnership reinforces the EU’s Global Gateway Investment Agenda, which aims to drive global cooperation in climate and environmental investment. The initiative is intended to unlock substantial private capital and deliver meaningful climate mitigation and adaptation outcomes in vulnerable regions.

EIB Vice-President Ambroise Fayolle emphasized the need for climate finance in island nations, stating, “Small Island Developing States face outsized risks from climate change and significant financing gaps. This fund provides a high-leverage opportunity to drive impact where it is urgently needed.”

Minister of Finance Gilles Roth of Luxembourg added, “Our participation is about deploying public capital smartly to unlock private investment in innovative climate solutions. De-risking blue economy projects through junior equity allows us to push capital where traditional markets hesitate.”

Serge Wilmes, Luxembourg’s Minister of Environment, Climate and Biodiversity, noted, “This reflects our long-standing commitment to supporting the most climate-vulnerable nations. SIDS can lead in ocean protection and clean development if given the right tools and finance.”

Outrigger Impact’s Managing Director Simon Dent highlighted the fund’s mission: “With SIDS overseeing over 30% of the world’s oceans via their exclusive economic zones, we see tremendous environmental, social, and economic potential. This fund is about unlocking that potential with catalytic investments in nature-based solutions, SMEs, and innovative marine projects.”

The fund’s portfolio is expected to contribute to reducing greenhouse gas emissions, protecting marine ecosystems including coral reefs, reducing ocean pollution—especially plastics—and enhancing the resilience of coastal communities. It will group projects across multiple SIDS, creating opportunities for scalable, high-impact investments that advance the blue economy while promoting sustainable income generation.

Background information

About EIB Global

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue EU policy objectives.

EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world. Photos of EIB headquarters for media use are available here.

About the Luxembourg-EIB Climate Finance Platform (LCFP)

The LCFP is a de-risking platform initiated by the Government of Luxembourg in collaboration with the EIB that seeks to catalyse private sector investments in high-impact climate projects in developing countries.

About Outrigger Impact

Outrigger Impact is a specialised blue economy platform, which is developing a dedicated financing facility to build environmental and economic resilience and drive nature-positive outcomes in Small Island Developing States, by catalysing and leveraging the blue economy and enhancing the sustainability of ocean resources. The Outrigger Impact Fund will provide investment capital for blue economy projects in a range of Small Island Developing States, and the Outrigger Technical Assistance Facility will provide grants and concessionary loans to support early-stage projects in islands, with the common aim of delivering dedicated funding of more than $100 million to catalytic projects in island states.

Media Contact:

Enrico Possenti
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+352 4379 – 82144

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SOURCE: European Investment Bank