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A new financing package from the EBRD and GCF delivered via the Bank's Green Economy Financing Facilities, which provide credit lines to financial institutions in EBRD countries of operations for climate change mitigation and adaptation investments. The Project will consist of an allocation of USD 400 million financing package of which USD 300 million will be provided by the Bank's ordinary resources and USD 100 million will be provided by the Green Climate Fund to be deployed under Green Economy Financing Facilities in Armenia, Egypt, Georgia, Jordan, Moldova, Mongolia, Morocco, Serbia, Tajikistan, and Tunisia. The Project will provide financing to qualifying local financial institutions in the eligible countries for on-lending to private and public sectors (businesses, individuals, housing collectives, suppliers and vendors of high performing climate technologies, service providers, and municipal service companies) for climate change mitigation and climate change adaptation investments, supporting Green Economy Transition.
The Framework will contribute to creating new and/or notably scaling up existing markets for climate change mitigation and climate change adaptation financing. By doing so, it will contribute to the strategic aim of the Bank's Green Economy Transition Approach especially by reaching out to smaller projects which the Bank would not be able to reach directly. The Framework will deliver scale by supporting the financing of more than 13,000 scalable and replicable climate change mitigation and climate change adaptation projects across the industrial, commercial, residential, transport and agricultural sectors. It will address multiple market barriers along the technology supply chains and unlock the potential for private sector investment.
The Framework will promote the transition to environmentally sustainable, low-carbon and climate-resilient economies in 10 of the countries where the EBRD invests, preventing these economies from being locked into carbon-intensive, climate-vulnerable and/or environmentally damaging polluting
pathways. This will be done by providing funding and know-how to financial intermediaries to finance high performing 'climate' technologies and solutions.
Borrowers will be local financial institutions consisting of banks, microfinance institutions, leasing companies and technology vendors operating in the eligible countries.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014). All Participating Financial Institutions (PFIs) under the Framework will be required to comply with EBRD's Performance Requirements 2, 4 and 9, adopt and implement the EBRD's E&S Risk Management Procedures for FIs and submit Annual Environmental and Social Reports to the Bank via FI Sustainability Index, including reporting on sub-projects and their climate change mitigation and climate change adaptation benefits. Beneficiaries financed under this Framework will be required to comply with national requirements for environment, health and safety and labour standards and the E&S eligibility criteria for climate change mitigation and climate change adaptation projects as per the Policy Statement. This will be confirmed to PFIs by a Facility Consultant engaged by the EBRD.
The Framework will be supported by a TC package of approx. USD 23 million for capacity building, marketing, project assessment and general monitoring and reporting. A separate gender component will also be implemented in parallel to help address gender-specific supply and demand obstacles related to design and marketing of green lending products.
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