Green for Growth Fund: A-Shares

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 51440

Status Disbursing

Location

Countries of Operations

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 51440

Status Disbursing

Location

Countries of Operations

Approval Date

11 Dec 2019

Disclosure date

23 Oct 2019

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated versions of this PSD: Albanian | Arabic | Azerbaijani | Bosnian | Croatian | Georgian | Macedonian | Montenegrin | Romanian | Serbian | Turkish | Ukrainian

Project Description

The proposed transaction is a re-investment of up to EUR 20 million in senior A-class shares of GGF.

Project Objectives

The proceeds of EBRD's investment will be used for on-lending to financial and non-financial partner institutions ("PIs") in accordance with the Fund's investment guidelines. The loans to PIs are in the form of senior debt, subordinated debt and guarantees, and aim to fund Energy Efficiency ("EE"), Resource Efficiency ("RE") and renewable energy projects across the Fund's target region, including Southeast Europe, the East and South European Neighbourhood Region ("ENR").

Transition Impact

By providing additional funding to GGF, the transaction will further contribute to the scaling up of green finance across GGF's target region, both through local commercial banks, as well as direct investments into renewable energy projects, supporting the development of the private sector and achieving positive environmental impact. Furthermore, the Fund shall continue to attract private sector participation in its capital structure, ensuring a stable and growing share of private sector funding for climate change mitigation and adaptation activities.

Client Information

GREEN FOR GROWTH FUND, SOUTHEAST EUROPE SA SICAV-SIF

The Green for Growth Fund is an investment company organised under the laws of the Grand Duchy of Luxembourg. The Fund was established in December 2009 by EIB and KfW with the aim of broadening the financing base of Energy Efficiency and Renewable Energy investments in Southeast Europe, including Turkey, as well as in the nearby European Eastern Neighbourhood region and in the Middle East and North Africa. The activities of GGF are also supported by a Technical Assistance Facility providing further technical support to FIs and end-borrowers for green investments.

EBRD Finance Summary

EUR 20,000,000.00

Total Project Cost

EUR 20,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014): Through the proposed investment, GGF will be required to continue to comply with PRs 2, 4 & 9; implement and comply with the relevant EBRD's Environmental & Social (E&S) Procedures; and submit annual environmental and social reports to EBRD.

Technical Cooperation

None.

Company Contact Information

Lloyd Stevens
L.stevens@finance-in-motion.com
+49 (0)69 271 035 113
https://www.ggf.lu
Carl-von-Noorden-Platz 5, 60596 Frankfurt/Main, Germany

Transition impact

ETI Score:60

PSD last updated

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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