European Investment Bank considers $6mn investment in Mirova Gigaton Fund

Mirova Gigaton Fund, which is currently raising a USD 500mn fund, may receive USD 6mn from the European Investment Bank.

MGF aims to provide debt funding to SMEs that generate and provide clean energy in sub-Saharan Africa and South East Asia, contributing to a number of sustainable development goals. These include SDG 7 (affordable and clean energy), SDG 5 (gender equality) and SDG 13 (climate action).

The fund reached its first close at USD 171mn, securing commitments from U.S. International Development Finance Corporation, Swedfund, Natixis Private equity and others. You can read more about that here.