The mission of the Green for Growth Fund is to contribute, in the form of a public private partnership with a layered risk/return structure, to enhancing energy efficiency and fostering renewable energies predominantly through the provision of dedicated financing to businesses and households via partnering with financial institutions and direct financing. The Green for Growth Fund is currently active in nineteen target markets including Albania, Armenia, Azerbaijan, Bosnia and Herzegovina, Croatia, Egypt, FYR Macedonia, Georgia, Jordan, Kosovo*, Lebanon, Moldova, Montenegro, Morocco, Serbia, the Palestinian Territories, Tunisia, Turkey, and Ukraine.

GGF is a unique public-private partnership established in December, 2009 to promote energy efficiency in its target region and to reduce CO2 emissions. GGF's investments seek to achieve a 20% reduction in energy consumption and/or a 20% reduction in CO2 emissions, by:

1. Refinancing Financial Institutions (local commercial banks, non-bank financial institutions such as microfinance institutions and leasing companies and other selected financial institutions) providing loans to households, businesses, municipalities and public sector for energy efficiency measures or renewable energy projects. Investments through Financial Institutions constitute the majority of GGF's investments.
2. Providing direct financing to Non-Financial Institutions (companies, energy service companies, renewable energy companies or projects, small scale renewable energy and energy efficiency service and supply companies) that meet GGF energy saving and/or emissions targets, and comply with the technical criteria and GGF exclusion list.

As an initiative of international financial institutions already active in the area of energy efficiency and renewable energy in the region, the Fund is designed to be complementary to existing programmes and funding sources and contribute to further innovations in financing and expanding the industries in Southeast Europe, the European Neighbourhood Region-East and the MENA Region. 

GGF also seeks to increase awareness of the importance and impact of energy efficiency and renewable energy in its Target Partners, and to develop the capacity of its investees in this area and, to a lesser extent, the market in general. This is achieved through dedicated projects organised and financed by the Fund's Technical Assistance Facility.

About the Technical Assistance Facility

The GGF Technical Assistance Facility (TAF) plays a key role in supporting the fund’s promotion of energy efficiency (EE) and renewable energy (RE) by providing targeted technical assistance to financial institutions and project developers in conjunction with GGF funding. By combining investments with targeted technical assistance, the GGF strives to create synergy effects to support improved EE, the expansion of renewable energies, and ensure the long-term effectiveness of Fund investments.   

The facility operates hand in hand with the GGF, complementing its investments with the following activities:

• Capacity building and training for GGF partners, who are financial and non-financial institutions and municipalities, and the fund’s ultimate target group, small to large enterprises, corporates, and households.
• Validation and monitoring of energy savings and CO2 emission reductions
• Strategic advice to the Fund’s managers based on research and analysis
• Increasing the awareness and acceptance of EE/RE solutions in the financial sector and among the public.

The provision of sound technical assistance is key to improving energy efficiency (EE) and the growth of renewable energy (RE). Recognizing the complexity of the EE and RE sectors, the Technical Assistance Facility is supporting GGF's partner institutions to ensure the sustainable use of EE and RE loans. This way the Facility helps bridge knowledge gaps and allows GGF to fulfil its role as a market enabler.

To carry out its activities, the Facility receives contributions from international development institutions and other donors, and, at the discretion of the GGF Board of Directors, a share of GGF’s income.

For further information regarding specific Technical Assistance Projects click here.

If you are interested in facility-related publications, please click here.