The European Bank for Reconstruction and Development (EBRD) is backing EfTEN Capital’s Baltic green property fund.

The bank said it has invested €30m in Usaldusfond EfTEN Real Estate Fund 4 to support investment in sustainable measures across the Baltic states.

The fund is the first in the region to adopt climate priorities and green objectives as integral aspects of its operational mandate.

Usaldusfond EfTEN Real Estate Fund 4 was set up in October 2018 to invest in commercial properties across Estonia, Latvia and Lithuania.

The fund primarily invests in office, retail and logistics facilities across the Baltic states.