BII, ILX Management commit $500 mn for sustainable projects – EQ

In Short : BII (Bahrain Industrial Investments) and ILX Management have jointly committed $500 million for sustainable projects. This significant investment reflects a growing trend among investors and businesses to support initiatives that promote environmental and social sustainability. The funds will likely be allocated to various sectors such as renewable energy, clean technology, and social impact projects, contributing to both economic growth and environmental conservation. This commitment demonstrates the increasing importance of sustainable investments in driving positive change and fostering a greener future.

In Detail : British International Investment Plc and the Netherlands-based ILX Management plan to co-fund as much as $500 million in debt of sustainable development projects across Africa, Asia and the Caribbean.

The money will be invested in renewable energy, infrastructure, financial services, manufacturing and agribusiness, the institutions said in a statement on Monday.

BII, the UK government’s development finance arm formerly known as CDC Group, is restricted to investing in the private sector and has assets of 8.1 billion pounds ($9.9 billion). ILX, an emerging market focused private debt fund, was created with support from the governments of Germany, the Netherlands and the UK.