EBRD Launches $634M Program To Expand Green Finance

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 11. The European Bank for Reconstruction and Development (EBRD) has launched "Greening financial systems: delivering climate finance for all", a program aiming to mobilize $634 million in green financing across 13 countries, including Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, and others, Trend reports.

The initiative is supported by a $200 million contribution from the Green Climate Fund (GCF), comprising concessional loans, incentive grants, and technical assistance. It is designed to make green finance accessible to households, smallholders, MSMEs, municipalities, utilities, and larger corporates, funding projects in energy efficiency, renewable energy, sustainable construction, and climate-resilient technologies.

Building on the success of the $1.4 billion Green Economy Financing Facility (GEFF), the program provides partner financial institutions with concessional funding, climate-risk tools, and training to embed climate finance into their business models. Financial incentives will be offered to institutions implementing climate transition plans aligned with the Paris Agreement.

Promoting regional and gender inclusion, the program ensures that at least 30% of subloans are outside capital cities and 20% support women-led projects. Since 2017, the EBRD and GCF partnership has mobilized over $5.2 billion in climate finance globally.

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