The European Commission, European Investment Bank (EIB) and Deutsche Bank have invested €205 million in an energy efficiency portfolio, Environmental Finance reports. The commission is offering initial funding of €125 million, the EIB €75 million and Deutsche Bank, which will be the fund’s investment manager, will provide €5 million to the fund.

The European Energy Efficiency Fund will provide financing directly and through other financial institutions to energy efficiency. It will also provide financing to municipal, local and regional authorities, and public and private sector bodies acting on their behalf, such as utilities, public transport providers and social housing associations.

Click here for the story from Environmental Finance.