At the COP27 in Sharm El-Sheikh, Egypt, the European Investment Fund (EIF), backed by the InvestEU programme, has signed commitments to four funds that support the green transition and climate objectives. The Eiffel Transition Infrastructure Fund, managed by a Paris-based asset manager, will provide equity bridge financing for renewable energy infrastructure assets in Europe. The EIF, with an InvestEU guarantee, will support this fund with EUR75 million. In addition, the Dutch PureTerra Ventures I fund will receive €30 million backing from the EIF through support from the InvestEU programme and the Dutch Future Fund. PureTerra Ventures I has a target size of €80 million, with an ultimate close at EUR 100 million, with which it aims to support impact-driven SMEs scaling game-changing technologies to radically change the usage, conservation and treatment of water. Furthermore, the EIF, with support by InvestEU, signed a EUR 75 million equity agreement with Suma Capital Climate Impact Fund III. This fund will focus on projects focusing on the green energy transition, including renewable energy generation, energy efficiency and smart mobility, as well as circular economy, including waste and water management projects. Finally, the EIF, backed by InvestEU, committed €28 million to the Growth Blue Fund I, a private equity fund focusing on the blue economy, sustainable economic activities relating to the ocean. It will mainly invest in Portuguese SMEs across different sectors. Commissioner for Economy, Paolo Gentiloni, said: “The green transition must be accelerated and cannot be delayed. The InvestEU programme seeks to mobilise private investments to help drive the support needed to deliver that transition. The agreements signed are clear evidence of this, as well as of InvestEU’s role in helping to make sustainable investment projects across the EU a reality.” The InvestEU programme provides the EU with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for EU policy priorities, such as the European Green Deal and the digital transition. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of EUR 26.2 billion. The entire budgetary guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least EUR 372 billion in additional investment. A press release summarising the InvestEU-backed signatures at COP27 is available online.