Green for Growth Fund: A-Shares

Project number:

51440

Approval date:

11 Dec 2019

Status:

Disbursing

PSD disclosed:

23 Oct 2019

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

Business opportunities

For business opportunities or procurement, contact the client company.

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Text of the PIP

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