Published: June 2, 2010
Mediterranean fund to back infrastructure projects.
A fund launched by a group of European and North African institutions last year has announced its first close.
The InfraMed Infrastructure Fund has €385mn to invest in sustainable urban, energy and transport infrastructure projects in the Southern and Eastern Mediterranean.
InfraMed aims to eventually raise up to €1bn and was established by EFG Hermes in Egypt, the European Investment Bank (EIB), France’s Caisse des Depots et Consignations (CDC), Italy's Cassa Depositi e Prestiti (CDP) and Morocco’s Caisse de Depot et de Gestion (CDG).
CDC and CDP put in €150mn each, the EIB contributed €50mn while CDG and EFG provided €20mn and €15mn respectively.