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Amundi, EIB achieve €253M first financial close for renewables program

French asset manager Amundi SA and the European Investment Bank have raised €253 million as of Nov. 30 for the first financial close of their Green Credit Continuum investment program.

Launched in July, the program aims to ensure companies will have better access to green financing to support their energy transitions. The initial commitment from the EIB is €60 million. Amundi and the EIB ultimately aim to deploy €1 billion throughout the program's duration.

The first-close investors include France's Caisse des Dépôts, the Caisse Centrale de Réassurance, the social welfare group Agrica and the Danish pension fund Lærernes. Crédit Agricole group is also a core investor in the project through 10 of its French regional banks, Amundi and the EIB said.