Partners we Finance

The Green for Growth Fund (GGF) is an impact investment fund partnering with various financial and non-financial institutions, which share the same outlook on business activity and sustainability. Using a blend of public and private financing, funds are channeled to eligible projects and companies through these local institutions in the fund's regions of operation. Augmenting the impact of investments made, the GGF Technical Assistance Facility is fully equipped to provide the the fund's partners with support and trainings, develop projects, and implement green technologies. 

Using green finance initiatives which reduce COemissions, energy consumption and resource use, profit and sustainability goals can be met simultaneously.

Below are some of the sample investees which the fund can finance.

Municipalities and public sector entities
Renewable energy projects (Direct Investments)
Renewable energy project companies (SPVs)
Other Non-Financial Institutions (DIRECT INVESTMENTS)
Corporates (e.g. industry or service sectors)
Energy Service Companies (ESCOs)
Municipalities and public sector entities


Financial institutions play a vital role in mainstreaming energy and resource efficiency and renewable energy investments with their clients by providing targeted financing to households, businesses, projects and public entities.

The GGF supports financial institutions by lending to such institutions to on-lend to end-borrowers. In addition, the fund works closely with its partner financial institutions to promote green finance as a viable business line for them. Engaged from the outset, the GGF provides support to develop green finance products, train partner staff, enhance a partner’s capacity to assess environmental and social impacts, build awareness of green finance within a partner institution, and offer assistance to end-clients for green investments, promoting sustainable growth.


Renewable Energy Projects

The GGF provides direct financing for select renewable energy projects in its regions of operation. The fund supports projects that use established technologies such as wind, solar thermal, photovoltaic (PV), hydropower, biomass, geothermal, storage and biogas. While the fund typically provides senior debt, it can also provide mezzanine financing for project finance transactions. The fund can either serve as a sole lender or as part of a club. The fund is also an approved B-Lender to a number of international financial institutions. For senior debt, the GGF’s contribution is typically between EUR 10-25 million per transaction for tenors of up to 20 years.

Investing in renewable energy projects is a growing aspect of the GGF’s portfolio, directly contributing to the long-term development of sustainable energy production and reduced CO2 emissions to mitigate climate change. To date, the GGF has supported over 700 MW of projects across its regions of operation. Many of these are the first of their kind in their country. In this way, the GGF is achieving strong impact by helping open markets for commercial renewable energy development.

The fund has strict environmental and social (E&S) criteria and all projects must adhere to the GGF’s E&S Policy. Please contact the fund’s advisor, Finance in Motion, for further details.

Other Non-Financial Institutions

The GGF also provides financing to other types of non-financial institutions, such as: companies making eligible investments within their facilities, producers and vendors of energy and resource efficient technologies, energy service and supply companies (ESCOs), or public sector entities for improved infrastructure and services.

The GGF selects investments depending on the positive impacts they deliver, environmental and social (E&S) considerations, and financial strength of the proposed counterparty, among other aspects.

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