The European Commission will contribute EUR80 million to boost small environment-friendly energy private investments in developing countries to 2010, it said Friday.
The commission, the executive body of the European Union, will also provide "risk-sharing and co-financing options" for investments in energy efficiency and renewables, mainly focusing on projects with a budget lower than EUR10 million.
The commission hopes its initiative "will mobilize private sector finance especially in small scale projects to accelerate the transfer, development and deployment of environmentally sound technologies," it said in a statement.
Countries in Africa, non-E.U. Eastern Europe, Asia and Latin America will be eligible, it said.