EU NEIGHBOURS . The Green for Growth Fund (GGF) is celebrating ten years of working to advance climate finance in Southeast Europe, the Caucasus, the Middle East, and North Africa.
The Fund was one of the first specialised vehicles to invest in renewable energy and energy efficiency projects in these regions and has unleashed €1 billion in green finance to more than 35,000 loan recipients to reduce energy and resource consumption and expand the use of renewables.
The GGF works mainly works through on-the-ground financial intermediaries to disburse loans to individuals and businesses. It also invests directly in renewable energy projects, such as the largest wind park in Ukraine and the first ever wind farm in Georgia among other projects in the Eastern Partnership region and beyond.
