Monday, October 24, 2016

Green Climate Fund contributes US$ 378 million to EBRD projects


This contribution will be made in support of sustainable energy financing facilities the Bank is offering in Armenia, Egypt, Georgia, Jordan, Moldova, Mongolia, Morocco, Serbia, Tajikistan and Tunisia. The program, with overall cost of more than US$ 1.4 billion in the 10 countries, is expected to leverage a five-fold additional financing by participating private sector banks to reduce greenhouse gas emissions by about 2 million tonnes a year.
It is expected that over 20,000 sub-projects will be financed to create employment opportunities through training and enhancement of financial institutions’ capacity to provide financial products for investments in energy efficiency.
The decision by the Green Climate Fund was made in the lead-up to the COP 22 negotiations in Marrakesh in November about the implementation of the Paris Accord. Read more at http://www.ebrd.com