In June 2014, OeEB provided the Green for Growth Fund, Southeast Europe (GGF) with fresh funding totalling EUR 20 million. In August 2019, the funds were increased by another EUR 25 million. GGF finances renewable energy and energy efficiency projects in Southeast Europe in order to enhance climate protection in this region.
|Project name||Green for Growth Fund (GGF)|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||EUR 45 million|
|Projekt partner(s)||Green for Growth Fund (GGF)|
The funds of the GGF will be provided on the one hand via financial intermediaries to households and companies that want to realize projects in the areas of energy efficiency, renewable energy and greenhouse gas reduction. On the other hand, the fund can make direct investments.
At the end of 2018, the fund reached a committed volume of around EUR 482.9 million. The financing provided by GGF resulted in annual energy savings of 2.75 million MWh and an annual CO2 emissions reduction of 692,183 metric tons. Since the foundation of the fund, more than 30,000 financings have been granted.
In addition, OeEB provides funds for GGF's Technical Assistance Facility, which reinforces its developmental impact. It finances, for example, energy efficiency training for local banking partners or measures to comply with international environmental and social standards.