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18.04.2024
Marking a significant milestone in their longstanding partnership, the Green for Growth Fund (GGF) and the Development Bank of Austria (OeEB) have announced a new investment of EUR 19.8 million. This recent transaction underscores a decade of collaborative efforts in promoting sustainable development and combating climate change in Southeast Europe.
The EUR 19.8 million investment by OeEB, its fifth transaction with GGF, replaces the initial agreements signed 10 years ago, set to expire at the end of March 2024. Through these collaborative efforts, OeEB has channeled almost EUR 70 million into climate protection measures via GGF, a testament to their shared commitment to environmental sustainability. This investment is fully aligned with the Austrian climate targets, demonstrating both organizations' strategic focus on climate protection and sustainable finance.
Reflecting on the transaction, Christopher Knowles, Chairperson of GGF, remarked, “This latest investment from OeEB not only celebrates a decade of partnership but also reinforces our joint mission towards a greener future. Together, we have made strides in energy efficiency and renewable energy that resonate beyond borders, setting a benchmark for sustainable development. We look forward to continuing this journey with OeEB, amplifying our efforts in the fight against climate change.”
Borislav Kostadinov, Fund Director at GGF, added, “The extension of our partnership with OeEB through this significant investment is a testament to the enduring strength and mutual benefits of our collaboration. Over the past decade, we have collectively fostered sustainable economic growth and environmental stewardship in Southeast Europe. This continued partnership will further propel our shared vision for a sustainable future, highlighting our commitment to innovative climate solutions.”
Sabine Gaber, Member of OeEB’s Executive Board, emphasized the alignment of this partnership with their green finance strategy, stating, “This most recent investment not only marks OeEB’s fifth transaction with the GGF but also the 10th anniversary of our partnership. OeEB and GGF first joined forces in 2014 to support energy efficiency and renewable energy projects in Southeast Europe. With our new strategy, we have placed an even greater focus on green finance and measures to fight climate change. We are therefore very pleased to continue our successful partnership with GGF, who shares these goals and is committed to building a more sustainable future.”