New Rewilding Europe Capital loans to enable transformative rewilding projects in Finland and Portugal

Backed by the Natural Capital Financing Facility, a joint initiative of the European Investment Bank and the European Commission, the loans will support new forest and peatland restoration projects that enhance biodiversity, support wildlife comeback and deliver greater value to people.

New financing for Rewilding Europe Capital totalling 800,000 euros will enable and scale up groundbreaking rewilding projects over the next three years. Support for nature-friendly businesses from the Natural Capital Financing Facility (NCFF), an initiative of the European Invesment Bank and the EU’s LIFE financing instrument to back nature-friendly businesses, will finance forest management in Portugal and wetland restoration in Finland.

Launched four years ago by the European Investment Bank (EIB) and European Commission, the NCFF has backed new investment by nature-focused businesses and is now supporting a wide range of projects and initiatives across Europe.

The ultimate objective of the facility is to demonstrate to investors the attractiveness of such businesses over the longer term, in order to develop a sustainable flow of capital and achieve scale. Stepping up the financing of projects focused on the enhancement of biodiversity and ecosystem services (BES) is considered one of the prerequisites for achieving the European Union’s 2020 biodiversity goals and beyond.

“The worthy recipients of these two new loans typify the growing portfolio of NCFF-funded projects,” says Andrew McDowell, a European Investment Bank Vice President responsible for agriculture and natural resources. “These projects have nature conservation at the heart of their business models. They exemplify how great conservation can generate real commercial opportunities.”

The new financing for projects in Finland and Portugal represents the first investment under the new initiative. The scheme will ultimately allow REC to provide loans of up to 600,000 euros to nature-based businesses which support rewilding across all 28 EU member states.

Original source: EIB
Published on 11 January 2019