The European Investment Bank and KfW Development Bank have joined together as initiators in the creation of the Green for Growth Fund, closely followed by the European Bank for Reconstruction and Development. GGF is further supported by first-loss funding provided by the European Commission and administered by the European Investment Fund.
GGF's Board of Directors, elected from a list of candidates submitted by the shareholders, exercises oversight of the fund and determines its strategic positioning and overall approach. Additionally, it supervises the service provider relationships that work on an operational level for GGF.
The Board of Directors has appointed an Investment Committee comprised of specialists in the fields of finance and renewable energy. The Investment Committee oversees the activities of the Investment Manager and Advisor, and is responsible for approving all investment decisions of the GGF. This ensures that GGF invests in Partner Institutions that comply with GGF's Investment Guidelines and Issue Document and follow the strategic vision laid out by the Board of Directors.
Similarly, the Technical Assistance Facility Committee is comprised of representatives of the Facility's donors and GGF's initiating shareholders, EIB and KfW.
Through a competitive tendering process, the shareholders have selected specialist firms to provide professional services to GGF. The Investment Manager and the Advisor, the Auditor, Custodian, Administrator and Domiciliary Agent all play important roles in GGF's operations. The Advisor supported by a Technical Advisor ensures that each investment proposed to the Investment Committee has been thoroughly reviewed with a full detailed analysis of all potential risks. The Board also appointed a Technical Assistance Facility Manager to conduct arms-length coordination and management of GGF's technical assistance under the supervision of the Technical Assistance Facility Committee.
For a detailed description of each service provider, please see: