EBRD and EU launch Green Economy Financing Facility to support the Palestinian economy

• EBRD and EU launch Green Economy Financing Facility (GEFF) to expand finance in the Palestinian economy
• Programme to improve access to finance for renewable energy, energy efficiency and resource-efficiency investments
• Investments already supported under the programme are expected to save over 12,600 MWh of energy and avoid 3,700 tonnes of CO₂ emissions each year.

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) launched the Green Economy Financing Facility (GEFF) to support the Palestinian economy, expanding access to finance for green investments that will help businesses and households lower costs, improve competitiveness and strengthen climate resilience.

The programme will support investments in renewable energy, energy and resource efficiency, green buildings, circular economy solutions and waste management, helping businesses and households lower costs, improve competitiveness and strengthen climate resilience.

Through a €25.9 million financing facility, the EBRD is working with local partner financial institutions to increase access to green finance. The programme combines EBRD financing with technical expertise and EU-funded investment incentives of up to 25 per cent to households and businesses for eligible and verified investments, helping accelerate the adoption of high-performance green technologies across the Palestinian economy.

The facility also aims at improving access to green finance for women and women-led businesses. Dedicated technical assistance and capacity-building activities will support participating financial institutions, households and businessesthroughout the programme.

GEFF-supported investments are expected to deliver significant environmental benefits. The investments done under the programme to date are already expected to generate annual savings of 12,656 MWh of primary energy and avoid 3,717 tonnes of carbon dioxide emissions, while reducing water consumption and waste generation.

Since the start of its activities in the West Bank and Gaza in 2017, the EBRD has approved 42 projects worth a total of €225 million.