The European Union is committing an additional €500 million to financial intermediaries investing in the blue economy.

Commissioner Virginius Sinkevičius and European Investment Fund (EIF) deputy chief executive, Roger Havenith announced the new equity initiative at the BlueInvest Days 2022 in Brussels, also confirming that the BlueInvest initiative will continue beyond 2022 until 2026.

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In the past three years, this initiative has been successful in matching hundreds of SMEs with investors, resulting in a stronger investment landscape for the blue economy. “The first phase of the platform acted as an accelerator to foster innovation and investment in sustainable technologies for the blue economy,” said Commissioner Sinkevičius.

“To further deepen and scale up these activities, we are now launching the second stage of BlueInvest. This will provide an even better service to European SMEs and investors, and more impact to support the European Green Deal objectives”

From BlueInvest to InvestEU Blue Economy

InvestEU Blue Economy, the scaled-up equity initiative that builds on the BlueInvest Fund pilot under European Fund for Strategic Investments, brings together the European Maritime, Fisheries and Aquaculture Fund, the EIB Group and InvestEU finance, mobilising an additional €500 million of EU funds. This will result in €1.5 billion of risk-financing available to innovative and sustainable blue economy SMEs and start-ups. The call for expression of interest will be published soon by the EIF.