Green for Growth Fund Southeast Europe (GGF)

Electricity Infrastructure Renewable energy

Beneficiary Countries:

  • Albania Albania
  • Bosnia and Herzegovina Bosnia and Herzegovina
  • Kosovo Kosovo*
  • North Macedonia North Macedonia
  • Montenegro Montenegro
  • Serbia Serbia
  • Ukraine Ukraine
  • Moldova Moldova
  • Georgia Georgia

Donation passport

Donor/IFI: EIB, KfW
Starting Year: 2009
Ending Year: 2025
Budget: 316 mil EUR Western Balkans; 92.6 mil EUR Ukraine; 92.9 mil USD Georgia; 3.5 mil USD Moldova
Type of Donation: Technical assistance and investment grants
Status: Ongoing

Lead Donor Contact

Sylvia Wisniwski, Finance in Motion GmbH

Short description of the overall project

The Green for Growth Fund  (GGF) is the first specialized fund to advance energy efficiency (EE) and renewable energy (RE) in Southeast Europe, including Turkey, as well as in the nearby European Eastern Neighbourhood region and in the Middle East and North Africa (MENA). Initiated by the European Investment Bank and KfW Development Bank, GGF is an innovative public-private partnership established to reduce energy consumption and CO2 emissions. The European Union has pledged also grants as shares in the Fund to cover the first loss. GGF provides refinancing to Financial Institutions to enhance their participation in the EE and RE sectors and also makes direct investments in Non-Financial Institutions with projects in these areas.


Short description of activities financed by the donation

The activities of GGF are supported by a Technical Assistance Facility for projects preparation. The facility is complementing the Fund’s investments with the following activities:

  • Capacity building and training for GGF partners, who are financial and non-financial institutions and municipalities, and the fund’s ultimate target group, small to large enterprises, corporates, and households.
  • Validation and monitoring of energy savings and CO2 emission reductions
  • Strategic advice to the Fund’s managers based on research and analysis
  • Increasing the awareness and acceptance of EE/RE solutions in the financial sector and among the public.