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Since June 2014, OeEB has invested a total of EUR 70 million in the Green for Growth Fund (GGF). The GGF is an impact investment fund that mitigates climate change and promotes sustainable economic growth, primarily by investing in measures that reduce energy consumption, resource use and CO2 emissions. The Fund operates in Southeast Europe and North Africa as well as in the European Eastern Neighbourhood and Middle East. To support the effects of the Fund, a dedicated Technical Assistance Facility (TAF) was created, to which OeEB provides technical assistance funds.
| Project name | Green for Growth Fund Technical Assistance Facility (GGF TAF) |
| Region | Eastern Europe, Southeast Europe, Middle East and North Africa |
| Sector | Energy generation and supply |
| Service | Business Advisory Services |
| Project country | i.a. Ukraine, Turkey, Kosovo, Georgia, Armenia, Serbia, etc. |
| International climate finance according to UNFCCC | Yes |
| Additionality | Value Additionality |
| Fund domicile | Luxembourg |
| Project partners | Finance in Motion GmbH (FiM), Banque de Luxembourg |
The objective of the Green for Growth Fund's Technical Assistance Facility (TAF) is to provide know-how and technical expertise to ensure that the investments of the Fund are successfully implemented. Technical Assistance projects range from direct support of financial institutions in growing their green lending portfolio, to empowering end-customers (SMEs and corporates) in implementing sustainable projects and growing access of households and businesses to green technologies. In addition, direct investments of GGF are supported to ensure that high Environmental and Social standards and green finance knowledge is transferred under the GGF Green Academy.