Green For Growth Fund, Southeast Europe SA, SICAF-SIV
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The Green for Growth Fund Southeast Europe (GGF) is the first specialized fund to advance energy efficiency (EE) and renewable energy (RE) in Southeast Europe, including Turkey. GGF is an innovative public-private partnership established to reduce energy consumption and CO2 emissions. GGF provides refinancing to financial institutions to enhance their participation in the EE and RE sectors and also makes direct investments in non-financial Institutions with projects in these areas. The activities of GGF are supported by a technical assistance facility.
What is our funding objective?
GGF's investments seek to achieve a 20% reduction in energy consumption and/or a 20% reduction in CO2 emissions through two core activities. Firstly by refinancing financial institutions (local commercial banks), non-bank financial institutions (such as microfinance institutions and leasing companies) and other selected financial institutions providing loans to households, businesses, municipalities and public sector for energy efficiency measures or renewable energy projects. Investments through financial institutions will constitute the majority of GGF's investments. The second activity is providing direct financing to non-financial institutions (energy service companies, renewable energy companies or projects, small scale renewable energy and energy efficiency service and supply companies) that meet GGF energy saving and/or emissions targets, and comply with the technical criteria and GGF exclusion list.
Why do we fund this investment?
This is FMO's second investment in GGF. GGF's activities generate green economic growth via investments in financial institutions. This is reflective of FMO's strategy. More specifically, GGF financing results in the following impacts: a broader financing base of EE and RE investments in the target regions; incrased awareness of EE and small RE products among companies and private households; and contributions to broadening and deepening the financial sector servicing those development needs.
More investments
- Website customer/investment
- http://www.ggf.lu
- Region
- Europe & Central Asia
- Country
- Europe & Central Asia
- Sector
- Financial Institutions
- Effective date
- 1/8/2015
- End date
- 5/31/2023
- Total FMO financing
- EUR 3.01 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B