Press Releases

Journalists may obtain the GGF logo by sending an e-mail stating the purpose
of their request to press@ggf.lu.

  • 2017-03-03

    GGF SPONSORS ALTER MODUS ‘DOCTOR’ MAKING HOUSE CALLS IN MONTENEGRO

    Luxembourg and Podgorica, Montenegro, 28 February 2017 – A “doctor” who still makes house calls? Montenegrins could be noticing a visitor stopping by to check their temperatures, or at least the temperatures of their homes and workplaces. 

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  • 2017-01-16

    GGF PARTNERS WITH NATIONAL BANK OF EGYPT TO SAVE ENERGY, CUT CO2 EMISSIONS

    Luxembourg and Cairo, 16 January 2017 -- The Green for Growth Fund (GGF) has approved a USD 30 million loan to the National Bank of Egypt (NBE) to finance measures that reduce energy use and CO2 emissions in Egypt. 

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  • 2017-01-12

    GGF EUR 10 MLN LOAN BOOSTS HALKBANK’S POTENTIAL FOR FINANCING ENERGY EFFICIENCY

    Luxembourg and Skopje, 12 January 2017 -- The Green for Growth Fund (GGF) has lent EUR 10 million to Halkbank Skopje to increase energy efficiency (EE) in Macedonia. The loan is the fund’s third to Halkbank Skopje since 2010, when the lender became the first in the country to offer EE financing products. The latest investment further solidifies this successful, long-standing cooperation and reflects Halkbank’s proven track record of promoting the reduction of energy use in Macedonia. 

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  • 2017-01-11

    GGF, GARANTI LEASING FUND CUTS IN ENERGY USE, EMISSIONS AT SMALL BUSINESSES IN TURKEY

    Luxembourg and Istanbul, 11 January 2017 – The Green for Growth Fund (GGF) has agreed to lend EUR 15 million to Turkey’s Garanti Finansal Kiralama A.Ş. (Garanti Leasing) to foster investments in energy efficiency and renewable energy equipment by Turkish micro, small, and medium enterprises (MSMEs).

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  • 2016-12-20

    GGF EARNS INAUGURAL LUXFLAG LABEL FOR CLIMATE CHANGE MITIGATION AND ADAPTATION

    Luxembourg, 19 December 2016 – The Green for Growth Fund (GGF) has become one of the world’s first impact investing organizations to earn the Climate Finance Label from LuxFLAG, the Luxembourg-based non-profit association for endorsing sustainable development investments.

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  • 2016-11-17

    GGF NEWS - EIB CONFIRMS PLANS TO STRENGTHEN SUPPORT FOR NORTH AFRICAN RENEWABLE ENERGY AND ENERGY EFFICIENCY

    Marrakesh, Morocco, 17 November 2016 – The European Investment Bank has issued the following statement about its ongoing partnership with the Green for Growth Fund: 

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  • 2016-11-15

    GGF ENTERS TUNISIAN GREEN ENERGY MARKET WITH EUR 10 MLN LOAN TO TUNISIE LEASING

    Luxembourg and Tunis, 15 November 2016 – The Green for Growth Fund (GGF) today announced a EUR 10 million senior loan to Tunisie Leasing, the fund’s first investment in Tunisia following its recent expansion into North Africa and the Middle East. 

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  • 2016-10-13

    GGF PARTNERS WITH AFK TO SUPPORT GREEN FINANCE IN KOSOVO

    Luxembourg and Peja, Kosovo, 13 October 2016 -- The Green for Growth Fund (GGF) today announced a EUR 1 million senior loan to Agjencioni për Financim në Kosovë (AFK) in a deal that further expands and diversifies the fund’s geographic and operational scope with financing for Kosovo’s developing energy efficiency (EE) market. 

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  • 2016-10-07

    GGF CO-FINANCES FIRST WIND PROJECT IN GEORGIA WITH USD 4 MILLION

    Luxembourg and Georgia, 07 October 2016 – The Green for Growth Fund (GGF) will contribute to the financing of the 20.7 MW Qartli wind farm project in Georgia. This investment marks the first time the GGF will be directly financing a wind energy project.

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  • 2016-09-26

    GGF ENTERS EGYPT WITH USD 20 MLN LOAN

    Luxembourg and Cairo, 26 September 2016 - The Green for Growth Fund (GGF) today announced a USD 20 million senior loan to ALEXBANK, the fund’s first deal in both Egypt and the region following its recently approved expansion into North Africa and the Middle East.

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  • 2016-07-05

    GGF LENDS GEORGIA’S BANK REPUBLIC USD 5 MLN

    Luxembourg and Tbilisi, Georgia, 5 July 2016 – The Green for Growth Fund (GGF) today announced a USD 5 million senior loan to Bank Republic to support the institution’s expansion of its green finance business.

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  • 2016-07-04

    GGF TEAMS WITH ALTER MODUS TO SUPPORT GREEN FINANCE IN MONTENEGRO

    Luxembourg and Podgorica, 4 July 2016 – The Green for Growth Fund (GGF) today announced a EUR 2 million senior loan for the microfinance institution Alter Modus in a transaction that further expands and diversifies the fund’s geographic and operational scope with financing for Montenegro’s emerging energy efficiency (EE) market. 

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  • 2016-07-01

    GGF EXPANDS OPERATIONS TO MIDDLE EAST, NORTH AFRICA

    Luxembourg, 1 July 2016 – The Green for Growth Fund (GGF) today announced the expansion of its proven and effective approach to green energy finance to Egypt, Jordan, Lebanon, Morocco, the Palestinian Territories, and Tunisia.

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  • 2016-06-23

    GGF INCREASES SUPPORT FOR YAPI KREDI LEASING WITH 3RD LOAN

    Luxembourg and Istanbul, 23 June 2016 – The Green for Growth Fund, Southeast Europe (GGF) said today it will lend EUR 20 million to Yapı Kredi Leasing to further support the company’s financing program for renewable energy production and energy‐efficient machinery.

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  • 2016-04-04

    GGF RECEIVES EUR 10 MILLION IN FRESH FUNDING FROM CHURCH OF SWEDEN

    Luxembourg and Uppsala, Sweden, 4 April 2016 – Church of Sweden is investing EUR 10 million in the form of Notes in the Green for Growth Fund, Southeast Europe (GGF). The investment of Church of Sweden represents a strong endorsement of the GGF’s concept to enhance energy efficiency (EE) and foster renewable energy (RE) in developing countries, and thus contribute to protecting the climate for future generations.

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  • 2016-03-09

    GGF PARTNERS WITH TOTAL LEASING & FINANCE TO SUPPORT ENERGY EFFICIENCY INVESTMENTS IN MOLDOVA

    Luxembourg and Chișinău, 9 March 2016 – The Green for Growth Fund, Southeast Europe (GGF) signed a EUR 2 million senior loan facility with ICS Total Leasing & Finance S.A. (TLF), one of the largest non-banking financial institutions in Moldova. The credit facility provided by the GGF along with targeted support through its Technical Assistance Facility will enable TLF to provide EE financing solutions ...

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  • 2016-01-19

    GGF AGAIN AWARDED LUXFLAG LABEL FOR ENVIRONMENTAL FUNDS

    Luxembourg, 19 January 2016 – The Green for Growth Fund, Southeast Europe (GGF) has been awarded the LuxFLAG Environment Label for the fifth consecutive year. The LuxFLAG Environment Label certifies that at least 75 percent of the GGF's assets are invested in a responsible manner in environment-related sectors. 

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  • 2015-12-17

    GGF AND ODEABANK TO EXPAND RENEWABLE ENERGY LENDING IN TURKEY

    Luxembourg and Istanbul, 17 December 2015 The Green for Growth Fund, Southeast Europe (GGF, the Fund) is providing a USD 11 million credit line to Istanbul-based Odeabank (the Bank). Odeabank plans to finance mainly renewable energy (RE) projects in the wind, geothermal and, increasingly, the photovoltaic sectors. 

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  • 2015-12-07

    GGF ESTABLISHES PARTNERSHIP WITH TBC BANK IN GEORGIA WITH A USD 15 MILLION SUBORDINATED LOAN FACILITY

    Funding to boost energy-efficiency (EE) and renewable energy (RE) investments in Georgia

    Luxembourg and Tbilisi, 7 December 2015 – The Green for Growth Fund, Southeast Europe (GGF) signed a USD 15 million subordinated loan facility with JSC TBC Bank (TBC) in Georgia. The funding provided by the GGF will strengthen TBC’s capitalization and support further growth of the Bank’s EE and RE lending activities.

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  • 2015-11-19

    GGF PROVIDES REAL ESTATE DEVELOPER M2RE IN GEORGIA WITH USD 11.5 MILLION LOAN FOR THE CONSTRUCTION OF ENERGY EFFICIENT HOUSING

    Luxembourg and Tbilisi, 19 November 2015 - The Green for Growth Fund, Southeast Europe (GGF) and the International Finance Cooperation (IFC) have together issued a USD 23 million syndicated loan to M2 Real Estate (M2RE), a wholly owned subsidiary of JSC Bank of Georgia. The GGF will be providing half of the loan sum, i.e. USD 11.5 million.

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  • 2015-10-20

    GGF AND BURGAN LEASING SIGN EUR 5 MILLION SENIOR LOAN

    Luxembourg and Istanbul, 20 October 2015 – The Green for Growth Fund, Southeast Europe (GGF) is providing a EUR 5 million senior loan to Istanbul-based Burgan Finansal Kiralama A.Ş. (Burgan Leasing) to support Turkish small and medium enterprises (SMEs) in upgrading to more energy-efficient (EE) equipment. In addition, Burgan Leasing plans to extend its portfolio by financing solar projects and thus contribute to strengthening the renewable energy (RE) sector. The upgrades ultimately financed by...

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  • 2015-10-20

    GGF AND FINANS LEASING TO EXPAND GREEN LENDING TO SMALL AND MEDIUM BUSINESSES IN TURKEY

    Luxembourg and Istanbul, 20 October 2015 - The Green for Growth Fund, Southeast Europe (GGF) is providing a EUR 15 million credit line to Istanbul-based Finans Leasing to support Turkish small and medium enterprises (SMEs) in upgrading to more energy-efficient equipment. In addition, Finans Leasing plans to finance renewable energy (RE) leases, particularly in the photovoltaics sector. The financing facility is estimated to reduce primary energy consumption by up to 16,500 MWh and CO2 emissions...

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  • 2015-09-21

    EUR 4 MILLION GGF PARTNERSHIP WITH OHRIDSKA BANKA, SOCIÉTÉ GÉNÉRALE GROUP TO BOOST GREEN LENDING

    Luxembourg and Skopje, 21 September 2015 – The Green for Growth Fund, Southeast Europe (GGF) is providing EUR 4 million in funding to Ohridska Banka, Société Générale Group (OBSG, the Bank). Macedonia imports over 40 percent of its primary energy; almost 80 percent of the electricity generated domestically stems from fossil sources, mainly coal. As one of the pioneers in the market, OBSG has recognized the importance of renewable energy (RE) and energy efficiency (EE) financing and the growth...

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  • 2015-08-04

    GGF AND PROCREDIT BANK SERBIA TO SUPPORT GREEN LENDING

    Frankfurt and Belgrade, 4 August 2015 - The Green for Growth Fund, Southeast Europe (GGF) and ProCredit Bank Serbia have entered into a new partnership to support green lending in Serbia.

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  • 2015-04-20

    IMPROVING AGRICULTURAL FINANCE IN SERBIA

    Frankfurt and Belgrade, 20 April 2015 - The Technical Assistance Facility of the Green for Growth Fund Southeast Europe (GGF TAF), the Development Facility of the European Fund for Southeast Europe (EFSE DF) and the the Association of Serbian Banks (ASB) organized a very successful workshop on the potential of dedicated agricultural finance in Belgrade on 27 March 2015.

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  • 2015-03-17

    EUR 22 MILLION GLS BANK INVESTMENT IN GGF FUELS GREEN ENERGY FINANCE

    Luxembourg, 17 March 2015 – The German GLS Bank (GLS, the Bank) is investing EUR 22 million in the Green for Growth Fund, Southeast Europe (GGF) as part of its impact investment strategy, specifically in the area of sustainable energy. The investment will leverage existing investments from donors and international financial institutions, and provide additional funding for energy efficiency (EE) and renewable energy (RE) projects in the Fund’s target region. The funding will be used to finance EE...

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  • 2015-02-25

    BMZ INVESTS FURTHER EUR 10 MILLION IN GGF

    Luxembourg, 25 February 2015 The German Federal Ministry for Economic Cooperation and Development (BMZ) is investing a further EUR 9 million in the Green for Growth Fund, Southeast Europe (GGF). The investment will be significantly leveraged through investments from international financial institutions, and increasingly from private investors as well, to mobilize additional funding for energy efficiency (EE) and renewable energy (RE) projects in its target region. The funding will be used to...

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  • 2015-01-13

    GGF AND ACBA LEASING PARTNER TO PROMOTE INVESTMENT IN ENERGY EFFICIENCY IN ARMENIA

    Luxembourg and Yerevan, 13 January 2015 The Green for Growth Fund, Southeast Europe (GGF) issued a USD 2 million senior loan to ACBA Leasing to promote energy efficiency (EE) investments in Armenia. This is the second GGF loan to ACBA Leasing dedicated to building a strong EE lease financing portfolio.
    As an existing partner of the GGF, ACBA Leasing’s business model shows a natural fit with the GGF’s mission to reduce energy consumption while fostering the sustainable development of SMEs in...

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  • 2014-12-23

    GGF STRENGTHENS COOPERATION WITH HALKBANK IN FYR MACEDONIA WITH SECOND EUR 10 MILLION LOAN

    Luxembourg and Skopje, 23 December 2014 - The successful cooperation between the Green for Growth Fund, South East Europe (GGF) and Halkbank AD Skopje (Halkbank) has led the GGF to issue a second senior loan facility in the amount of EUR 10.0 million. The credit facility enables Halkbank  – via its Eco-loan products – to increase the scope and volume of its financing business for energy efficiency (EE) measures, such as the replacement of energy-inefficient heat supply systems and the upgrade of...

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  • 2014-12-19

    EBRD INVESTS IN EXPANSION OF GREEN FOR GROWTH FUND

    Luxembourg and London, 19 December 2014 - The European Bank for Reconstruction and Development (EBRD) is boosting the activities of the Green for Growth Fund (GGF) with an investment of €25 million, which will promote investments in renewable energy and energy efficiency projects in south-eastern Europe and the European Neighbourhood region (Armenia, Azerbaijan, Georgia, Moldova and Ukraine).

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  • 2014-10-30

    GGF AND MUGANBANK PROMOTE INVESTMENT IN ENERGY EFFICIENCY MEASURES IN AZERBAIJAN

    USD 5 million senior loan to MuganBank is GGF’s second investment in Azerbaijan.
    Loan enables MuganBank to become one of Azerbaijan’s first institutions to offer dedicated energy efficiency (EE) loans.
    Sub-loans issued by MuganBank will facilitate investments in EE measures for micro, small and medium enterprises (MSMEs) and households.
    Projected primary energy savings to result from EE investments financed by sub-loans: 8,700 MWh/year.

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  • 2014-10-21

    GGF AND FMO PARTNER TO SUPPORT FIBABANKA’S EE LENDING BUSINESS

    GGF and FMO to jointly provide EUR 40 million credit line to the Turkish bank Fibabanka.
    EE loans financed by credit line projected to reduce primary energy consumption by up to 84,000 MWh.

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  • 2014-09-30

    GGF PARTNERS WITH BANK OF GEORGIA TO FINANCE ENERGY EFFICIENT BUILDINGS IN GEORGIA

    GGF expands into Georgia with initial EUR 15 million loan to Bank of Georgia. New buildings financed by loan to yield primary energy savings of more than 20%.

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  • 2014-09-11

    GGF AND AKLEASE SIGN FIRST LOAN AGREEMENT TO BOOST EE AND RE EQUIPMENT LEASING

    Luxembourg and Istanbul, 11 September 2014 - The Green for Growth Fund, Southeast Europe (GGF) expanded its base of partner institutions in Turkey with the signing of its first loan agreement with Ak Finansal Kiralama A.S. (Aklease). The loan totaling EUR 20 million will go towards financing leases for energy efficiency (EE) and renewable energy (RE) equipment.

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  • 2014-08-20

    GGF ISSUES SECOND LOAN TO YAPI KREDI LEASING FOR EUR 15 MILLION

    Luxembourg and Istanbul, 20 August 2014 - The Green for Growth Fund, Southeast Europe (GGF) is supporting Yapı Kredi Leasing with a EUR 15 million senior loan. This loan will be used to provide Yapı Kredi Leasing's clients with additional possibilities for leasing energy-efficient machinery.

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  • 2014-08-15

    GGF MAKES FIRST INVESTMENT IN AZERBAIJAN WITH USD 15 MILLION LOAN TO ACCESSBANK

    Luxembourg and Baku, 15 August 2014 - The Green for Growth Fund, Southeast Europe (GGF) made its first investment in Azerbaijan with a USD 15 million energy efficiency senior loan to AccessBank (the Bank), a specialized microfinance bank.

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  • 2014-06-11

    GREEN ENERGY FINANCE IN SOUTHEAST EUROPE AND THE EUROPEAN NEIGHBOURHOOD REGION: OEEB MAKES EUR 20 MILLION AVAILABLE TO GGF

    Luxembourg and Vienna, 11 June 2014 - The Development Bank of Austria (Oesterreichische Entwicklungsbank AG – OeEB) is providing the Green for Growth Fund, Southeast Europe (GGF) with fresh funding totaling EUR 20 million. The investment will serve to develop renewable energy projects and improve energy efficiency in Southeast Europe and the European Eastern Neighbourhood Region to enhance climate protection in this part of the globe.

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  • 2014-05-14

    GGF ISSUES ADDITIONAL EUR 4 MILLION LOAN TO PARTNER MCF

    Luxembourg and Tuzla, 14 Mai 2014 - The Green for Growth Fund, Southeast Europe (GGF) and Partner Microcredit Foundation (Partner MCF) signed a EUR 4 million senior loan contract to expand Partner's lending activities predominantly in the rural parts of Bosnia and Herzegovina. Partner MCF is one of the country's leading microcredit organizations and the first to offer a specific energy efficiency product.

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  • 2014-01-15

    GGF AGAIN AWARDED WITH LUXFLAG LABEL FOR ENVIRONMENTAL FUNDS

    Luxembourg, 15 January 2014 - The Green for Growth Fund, Southeast Europe (GGF) has been awarded the LuxFLAG Environment Label for the third consecutive year. The LUXEMBOURG FUND LABELLING AGENCY (LuxFLAG) supports the financing of sustainable development by providing clarity for investors through awarding Labels.

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  • 2014-01-13

    GGF AND INTESA LEASING BELGRADE SIGN EUR 5 MILLION ENERGY EFFICIENCY LOAN AGREEMENT

    Luxembourg and Belgrade, 13 January 2014 - The Green for Growth Fund, Southeast Europe (GGF) signed a senior loan facility of EUR 5 million with Intesa Leasing Belgrade (ILB) in Serbia to provide energy efficiency (EE) financing for a wide range of business and agricultural clients across the country. This new partnership between Intesa Leasing and the GGF follows through on the successful relationship already established by the GGF with Banca Intesa Belgrade, the parent company of Intesa...

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  • 2013-12-19

    GGF AND AUSTRIA ALLEVIATE ALBANIA'S ENERGY DEFICIT WITH JOINT RENEWABLE ENERGY PROJECT

    Luxemburg and Vienna, 19 December 2013 - The energy situation in Albania is set to improve with support from Austria and the GGF: enso hydro GmbH, based in Graz, Austria, is erecting a small hydropower plant in Lengarica; financing will be provided by the Development Bank of Austria (OeEB - Oesterreichische Entwicklungsbank AG) and the Green for Growth Fund, Southeast Europe (GGF).

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  • 2013-12-16

    GGF ISSUES EUR 5 MILLION LOAN TO ARMENIAN ACBA-CREDIT AGRICOLE BANK

    Luxemburg and Yerevan, 16 december 2013 - The Green for Growth Fund, Southeast Europe (GGF) and ACBA-Crédit Agricole Bank (ACBA-CA Bank, the Bank), Armenia signed a EUR 5 million senior loan agreement. This credit facility is aimed at financing dedicated EE loan products to retail and business clients, predominantly SMEs.

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  • 2013-12-10

    CBA in Collaboration with GGF, IFC and EBRD Raises Public Awareness on Energy Efficiency Issues

    Yerevan, Armenia, 10 December, 2013 - The Central Bank of the Republic of Armenia (CBA) in cooperation with the Green for Growth Fund, Southeast Europe (GGF), the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) has launched an awareness raising initiative aimed at educating the public on energy efficiency issues. The event gathered representatives of Armenian financial institutions, public and private sectors representatives, and energy...

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  • 2013-12-09

    GGF ISSUES EUR 20 MILLION LOAN TO ZAGREBAČKA BANKA

    Luxemburg and Zagreb, 9 December 2013 - The Green for Growth Fund, Southeast Europe (GGF) has issued a EUR 20 million senior loan to Zagrebačka banka (ZABA, the Bank) in Croatia. The GGF's credit facility will be used for renewable energy (RE) and energy efficiency (EE) financing, supporting the country in achieving its EU target to decrease CO2 emissions by 20% and achieve 20% saving of energy consumptions by 2020.

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  • 2013-12-06

    GGF PROVIDES ACBA LEASING WITH EUR 1.75 MILLION LOAN FACILITY

    Luxemburg and Yerevan, 06 December 2013 - The Green for Growth Fund, Southeast Europe (GGF) has issued a senior loan facility totaling EUR 1.75 million (EUR 1 million and USD 1 million) to ACBA Leasing Credit Organization CJSC (ACBA Leasing) in Armenia. The new credit line will be used to finance the energy efficiency (EE) investments of existing ACBA Leasing clients as well as to encourage new customers to invest in EE measures.

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  • 2013-02-28

    GGF and Unicredit Bank Banja Luka boost energy efficiency financing with EUR 10 million loan facility

    Luxembourg and Banja Luka, 28 February 2013 - The Green for Growth Fund, Southeast Europe (GGF, the Fund) and UniCredit Bank a.d., Banja Luka (UniCredit Banja Luka, the Bank) signed a EUR 10 million credit line to strengthen the Bank's lending capacity for energy efficiency (EE) projects at the retail and micro, small and medium enterprise (MSME) levels. This is the GGF's first loan to UniCredit Banja Luka.

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  • 2013-01-10

    GGF again awarded LuxFLAG Label for environmental funds

    Frankfurt, 10 January 2013 - The Green for Growth Fund, Southeast Europe (GGF, the Fund) has again been awarded the LuxFLAG Environment Label in 2013. This marks the second consecutive year that the GGF has earned this important independent industry label.

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  • 2012-12-13

    First GGF Loan Agreement with PBZ paves way for renewable energy and energy efficiency investments in Croatia

    The Green for Growth Fund, Southeast Europe (GGF, the Fund) and Privredna banka Zagreb dd have signed a EUR 25.0 million loan agreement (PBZ, the Bank) in Croatia. The GGF's credit facility is structured to finance renewable energy (RE) and energy efficiency (EE) projects in Croatia, helping to improve the country's energy security and diversify its energy supply. The investment will also translate into substantial reductions in greenhouse gas emissions. PBZ is the GGF's first partner...

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  • 2012-12-13

    Prva kreditna linija između GGF-a i PBZ-a potiče investicije u obnovljive izvore energije i energetsku učinkovitost u Hrvatskoj

    • Kreditna linija u iznosu od 25 milijuna eura potpisana između GGF-a i PBZ-a
    • Linija potiče energetsku neovisnost i raznoliku opskrbu energijom
    • Procijenjeno godišnje smanjenje emisije CO2 iznosi 44.000 tone godišnje

    Green for Growth Fund, Southeast Europe (GGF) i Privredna banka Zagreb d.d. (PBZ) potpisali su Ugovor o kreditu u iznosu od 25 milijuna eura. Kreditna linija je strukturirana za financiranje projekata obnovljivih izvora energije (OIE) i energetske učinkovitosti (EE) u Hrvatskoj, s...

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  • 2012-11-21

    FMO invests EUR 25 Million in GGF

    Luxembourg and The Hague, 21 November 2012 - The Green for Growth Fund, Southeast Europe (GGF, the Fund) and Netherlands Development Finance Company (FMO) in The Hague, Netherlands, signed a EUR 25 million investment in the Fund's A Share (EUR 20.6 million) and B Share (EUR 4.6 million) tranches. FMO's investment will significantly leverage GGF's public donor funding (the C Share tranche) to broaden the funding base for energy efficiency (EE) and renewable energy (RE) projects in the GGF's...

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  • 2012-11-16

    GGF and ARARATBANK boost energy efficiency financing with USD 5 million loan facility

    Luxembourg and Yerevan, 16 November 2012 - The Green for Growth Fund, Southeast Europe (GGF, the Fund) and Araratbank OJSC (Araratbank, the Bank) today signed a USD 5 million loan agreement to strengthen the Bank's lending capacity for energy efficiency (EE) projects at the retail and micro, small and medium enterprise (MSME) level. The loan will bolster Araratbank's strategy to position itself as a key player in the green energy finance in Armenia

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  • 2012-10-12

    GGF and Megabank sign USD 10 Million energy efficiency loan agreement

    Luxembourg and Kharkiv, 12 October 2012 - The Green for Growth Fund, Southeast Europe (GGF, the Fund) and PJSC Megabank (the Bank) in Kharkiv, Ukraine signed a USD 10 million loan agreement to expand the Bank's lending capacity for energy efficiency (EE) projects at the corporate as well as small and medium enterprise (SME) level. In the process of supporting the Megabank's strategy to significantly grow its EE portfolio, the loan will also strengthen the Bank's capacity to provide sustainable...

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  • 2012-10-04

    GGF and Inecobank sign USD 10 Million energy efficiency loan agreement

    Luxembourg and Yerevan, 04 October 2012 - The Green for Growth Fund, Southeast Europe (GGF, the Fund) and Inecobank CJSC (Inecobank, the Bank) in Yerevan, Armenia signed a USD 10 million loan agreement to expand the Bank's lending capacity for energy efficiency (EE) projects at the retail and small and medium enterprise (SME) level. The loan is instrumental in supporting Inecobank's strategy to evolve into a green bank. This is the GGF's first energy efficiency loan to a financial institution in...

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  • 2012-08-22

    GGF and Banca Intesa a.d. Beograd sign EUR 7 million energy efficiency loan agreement

    Luxembourg and Belgrade, 22 August 2012 - The Green for Growth Fund, Southeast Europe (GGF) and Banca Intesa a.d. Beograd (Banca Intesa Beograd or the "Bank") in Belgrade, Serbia have signed a EUR 7 million loan agreement to expand the Bank's lending capacity for energy efficiency (EE) projects at the individual and household level. EE loans to individuals and households are demonstrably effective in contributing towards reducing energy consumption and greenhouse gas emissions. This is the GGF's...

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  • 2012-06-20

    GGF official sponsor of the 5th Annual Balkan Energy Finance Forum in Belgrade

    At the leading conference dedicated to the Balkans energy finance sector, the Green for Growth Fund, Southeast Europe (GGF), as the official sponsor of the event, hosted the panel session "Increasing Opportunities for Energy Efficiency".

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  • 2012-05-31

    GGF and partner MCF boost energy efficiency lending in Bosnia and Herzegovina

    Tbilisi and Tuzla, 31 May, 2012 - The Green for Growth Fund, Southeast Europe (GGF) is providing Partner Microcredit Foundation (Partner MCF) in Bosnia and Herzegovina, Tuzla, with a EUR 1.5 million loan to help the latter in expanding its energy efficiency lending capacity. Partner MCF will on-lend the funds to micro entrepreneurs, private households and farmers for energy efficiency projects, which will help them reduce energy consumption as well as greenhouse gas emissions. This is the GGF's...

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  • 2012-05-31

    GGF participates in the EFSE Annual Meeting 2012 in Tbilisi

    As a special participant, the Green for Growth Fund, Southeast Europe hosted a panel discussion on energy efficiency and renewable energy finance ...

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  • 2012-05-24

    GGF €23 million financing to Komercijalna Banka to support energy efficiency investments in Serbia

    Luxembourg and Belgrade, 24 May, 2012 - The Green for Growth Fund, Southeast Europe (GGF) signed a EUR 23 million loan agreement with Komercijalna Banka AD Beograd (Komercijalna Banka or the "Bank") today to fund the Bank's new energy efficiency loan program, which will provide private households, small and medium enterprises, corporations, public utility companies and municipalities in Serbia with access to long-term credit products for energy efficiency improvements.

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  • 2011-12-15

    Green for Growth Fund, Southeast Europe receives LuxFLAG Environment Label

    Luxembourg, December 15, 2011 - The Green for Growth Fund, Southeast Europe ("GGF" or the "Fund") announced today that it has been granted the LuxFLAG Environment Label by LuxFLAG, an independent Fund Labeling Agency based in Luxembourg. The Label, launched in June 2011, certifies that the GGF invests in a responsible manner at least 75 per cent of its assets in environment-related sectors. The GGF - initiated in December 2009 by the KfW Entwicklungsbank (The German Development Bank) and...

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  • 2011-11-11

    GGF supports EE Awareness Raising campaign in Serbia

    The Green for Growth Fund, Southeast Europe (GGF), in cooperation with Čačanska banka, is supporting the Energy Efficiency (EE) awareness raising campaign "Save Energy – Invest in Future" in Serbia.

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  • 2011-07-18

    European Commission invests additional EUR 19 million into Green for Growth Fund

    Frankfurt am Main, July 18, 2011 - The European Commission announced today that it has invested EUR 19 million in the first-loss tranche of the Green for Growth Fund, Southeast Europe ("GGF" or "Fund") to finance the Fund's energy efficiency and renewable energy investments in Croatia and Turkey. This is the second investment agreement the European Commission has signed with the GGF, following a EUR 20 million contribution on the occasion of the Fund's 1st closing in December 2009 (1) . In...

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  • 2011-06-07

    Green for Growth Fund and NLB Razvojna Banka Banja Luka sign energy efficiency loan

    Tirana (Albania) and Banja Luka (Bosnia and Herzegovina), June 7, 2011 - The Green for Growth Fund, Southeast Europe (GGF) signed a EUR 5 million loan agreement during the Annual Meeting of the European Fund for Southeast Europe (EFSE) held today in Tirana, Albania, to launch NLB Razvojna banka a.d. Banja Luka's (or the "Bank") new energy efficiency loan program. This is the GGF's first loan to a financial institution in Bosnia and Herzegovina. The loan will help businesses and private...

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  • 2011-06-07

    Green for Growth Fund and Čačanska Banka sign energy efficiency loan

    Tirana (Albania) and Čačak (Serbia), June 7, 2011 - The Green for Growth Fund, Southeast Europe (GGF) signed a EUR 5.0 million loan agreement with Čačanska banka a.d. Čačak (or the "Bank") in Serbia to fund the Bank's energy efficiency loan program. This is the GGF's first loan to a financial institution in Serbia. The loan will help businesses and private households in Serbia reduce their energy costs and consumption, implement cleaner production projects and reduce greenhouse gas emissions....

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  • 2011-06-07

    Green for Growth Fund, Southeast Europe participates in the EFSE Annual Meeting 2011 in Tirana

    The Annual Meeting 2011 of the European Fund for Southeast Europe (EFSE) that took place in Albania's capital, Tirana, also saw the participation of the Green for Growth Fund, Southeast Europe (GGF).

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  • 2010-12-06

    Green for Growth Fund, Southeast Europe signs energy efficiency loan with Turkish Yapi Kredi Leasing

    The Green for Growth Fund, Southeast Europe (or "GGF") has signed a senior loan facility of EUR 20 million with the Turkish leasing company Yapi Kredi Finansal Kiralama A.O. (or "Yapi Kredi Leasing").

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  • 2010-11-12

    GGF, Southeast Europe provides export and credit bank with EUR 5 million loan for energy efficiency investments in FYR Macedonia

    Frankfurt am Main and Skopje, November 12, 2010 - The Green for Growth Fund, Southeast Europe (GGF) and Izvozna i Kreditna Banka A.D., Skopje ("Export and Credit Bank" or "IK Banka") today signed a senior loan agreement of EUR 5 million. This loan will contribute to expanding the energy efficiency lending operations of the Bank, helping private households and businesses in FYR Macedonia reduce their energy costs and consumption and reduce CO2 emissions. It is the first investment GGF has made in...

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  • 2010-09-02

    German Development Ministry contributes EUR 8 million to the Green for Growth Fund, Southeast Europe

    Frankfurt am Main, September 2, 2010 - The German Federal Ministry for Economic Cooperation and Development (BMZ) has made an EUR 8 million contribution to the first-loss tranche of the Green for Growth Fund, Southeast Europe (GGF). The proceeds will be used to finance energy efficiency (EE) and small-scale renewable energy (RE) projects implemented by businesses and households within the region of Southeast Europe, where there is a substantial market for investment opportunities in EE and RE.

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  • 2010-07-12

    IFC invests in the Green for Growth Fund, Southeast Europe

    Frankfurt am Main, June 29, 2010 - IFC, a member of the World Bank Group, today said it will invest up to EUR 25 million in the Green for Growth Fund, Southeast Europe (GGF) to stimulate financing of energy efficiency and renewable energy projects in Southeast Europe, including Albania, Bosnia and Herzegovina, Croatia, Kosovo, FYR Macedonia, Montenegro, Serbia and Turkey.

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  • 2010-06-09

    Green for Growth Fund, Southeast Europe makes first investment in Turkey

    Ohrid, FYR Macedonia, June 9, 2010 - The Green for Growth Fund, Southeast Europe (GGF, formerly known as South East Europe Energy Efficiency Fund) has signed a senior loan facility of EUR 25 million with the Turkish commercial bank Şekerbank. The loan will enable Şekerbank to expand its energy efficiency financing program, helping Turkish private households, homeowners, small and medium-sized enterprises to reduce their energy costs and consumption and reduce CO2 emissions.

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  • 2010-06-09

    OeEB makes donation to the Technical Assistance Facility of the Green for Growth Fund, Southeast Europe

    The Oesterreichische Entwicklungsbank AG (OeEB), the Development Bank of Austria together with the Austrian Federal Ministry of Finance donated in a festive ceremony EUR 500,000 to the GGF Technical Assistance Facility.

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  • 2009-12-17

    EIB partners with KfW, others, to launch Southeast Europe Energy Efficiency Fund

    The European Investment Bank, the bank of the European Union, and KfW Entwicklungsbank, the German Development Bank, have launched with other institutions a new fund to promote energy efficiency and renewable energy projects in Southeast Europe and Turkey. Under an agreement signed in Brussels today, the South East Europe Energy Efficiency Fund (SE4F) will have an initial volume of EUR 95 mn. The aim is to increase the Fund's size to EUR 400 million over the course of four to five years by...

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