EIB and Malta Development Bank Collaborate to Boost Green Investments with New Green Gateway Report

EIB and Malta Development Bank Collaborate to Boost Green Investments with New Green Gateway Report

(IN BRIEF) EIB Vice President Kyriacos Kakouris presented the Green Gateway Report during a visit to the Malta Development Bank (MDB). The report, part of a broader €30 million EIB-funded initiative, outlines opportunities to fast-track climate action and green investments in Malta. It identifies key sectors like renewable energy, electric vehicles, and waste management, and evaluates the MDB’s portfolio to enhance support for sustainable projects. This partnership between the EIB Group and the MDB aims to drive Malta’s green transition and promote sustainable growth.

(PRESS RELEASE) LUXEMBOURG, 18-Oct-2024 — /EuropaWire/ — EIB Vice President Kyriacos Kakouris visited the Malta Development Bank (MDB) to officially unveil the Market Assessment and Recommendations Report under the Green Gateway Advisory initiative, a project aimed at accelerating climate action and sustainability investments in Malta. The initiative, launched earlier this year with the support of the European Investment Bank (EIB) Group, including the European Investment Fund (EIF), enhances the MDB’s ability to identify and finance green projects aligned with international sustainability standards.

The report forms a key part of the MDB’s €30 million climate-action program, funded by the EIB, which focuses exclusively on green and sustainable projects. It highlights investment opportunities in key sectors such as renewable energy, waste management, electric vehicles, and energy-efficient buildings, while assessing the MDB’s existing portfolio to maximize untapped potential.

The Green Gateway Report also aligns the MDB’s funding strategy with various EIB Group financing options, ensuring streamlined access to multiple sources of green financing. This collaboration, including the upcoming introduction of schemes under the EIF InvestEU Sustainability Guarantee, will further bolster green investment for Maltese SMEs and small mid-caps.

EIB Vice President Kakouris emphasized the importance of national promotional banks like the MDB in supporting SMEs’ green transition, stating, “The Green Gateway Advisory initiative is a significant milestone, positioning the MDB to lead Malta’s efforts in climate action and sustainability with the support of the EIB Group.”

Leo Brincat, Chairman of the MDB, echoed these sentiments, saying, “This partnership empowers us to spearhead transformative environmental projects, strengthening Malta’s resilience against climate change.”

Paul V. Azzopardi, CEO of the MDB, added, “This report marks an important step in advancing Malta’s green economy, ensuring both environmental sustainability and economic growth for our businesses and communities.”

Background information

European Investment Bank Group

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It provides long-term financing for sound investments that contribute to EU policy. The Bank finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs).

The European Investment Fund (EIF) is part of the EIB Group. It supports Europe’s small and medium-sized enterprises (SMEs) by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment. In 2023, the EIF mobilized over €134 billion for the European economy, enhancing competitiveness, supporting innovative entrepreneurs, promoting social impact, fostering sustainability, and advancing the green transition. Going forward, EIF aims to strengthen financing access for European entrepreneurs, focusing on key sectors to drive sovereignty, competitiveness, and a greener, more inclusive future.

Green Gateway 

Financed with InvestEU Advisory Hub funds, the Green Gateway advisory programme was created by the EIB together with the European Commission to enable European financial institutions to invest in green projects. The Green Gateway’s advisory services aim to strengthen the skills, procedures and operational tools of EIB financial intermediaries to promote the planning, selection and financing of initiatives with positive environmental impact. The Green Gateway also offers an online portal full of guidelines, case studies and useful information on green investment. The portal provides access to the Green Eligibility Checker, a tool making it possible to assess the eligibility and climate impact of green economy investment projects in various sectors.

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Lorenzo Squintani
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SOURCE: European Investment Bank