The fund unleashed EUR 1 billion in green finance to more than 36,000 clients

Annual CO2 savings of over 850,000 tons

Luxembourg, May 20, 2020 – The Green for Growth Fund (GGF) has released its Impact Report for 2019, a year marking its tenth anniversary of delivering green impact and advancing energy efficiency, renewable energy, and resource efficiency in the target regions of Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa. 

The GGF Impact Report for 2019 showcases the fund’s milestones from 2019, with a dedicated anniversary leaflet outlining the fund’s groundbreaking achievements since inception. The report also features success stories of the GGF’s investments, reflecting the different measures the fund supports. From contributing to Ukraine’s goal to transition to renewable energy, to exploring diverse ways to support households’ and small businesses’ access to green finance through the newly launched “Green for All” initiative.

GGF Chairman Olaf Zymelka said: “We are proud to share the latest Impact Report of the Green for Growth Fund as it celebrates the fund’s tenth anniversary. We have come a long way since the fund was established in 2009 – unleashing more than EUR 1 billion in green finance to more than 36, 000 clients. This would not have been possible without the enduring partnerships we have created with more than 60 partner financial institutions. With the current global crisis created by COVID-19, now more than ever, these partnerships are important for us to continue our mission to mitigate climate change and promote sustainable economic growth. We have broken a lot of ground over the past 10 years and look forward to more trailblazing feats in the coming decade.”

The full Impact Report 2019 can be found online here, and print copies of the report can be requested at:



The Green for Growth Fund invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets across Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa. The fund provides such financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions. The GGF’s Technical Assistance Facility maximizes the fund’s investment impact through support for capacity building at local financial institutions and partners. 

The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Energy & Water GmbH, Frankfurt am Main acts as the technical advisor. 

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Media contact GGF
Merle Römer
Manager Marketing & Communications
Phone: +49 (0)69 271 035-171