On December 10, the EBRD launched its new GEFF in Tbilisi, Georgia. The Green Economy Financing Facility in Georgia will be co-financed by the EBRD, the Austrian Federal Ministry of Finance and the Green Climate Fund.
The launch event was followed by the awarding ceremony of the previous successfully implemented EBRD facility, Energocredit, supported by the European Union and the Austrian Federal Ministry of Finance. During the launch event, the EBRD announced the six best energy efficiency projects in Georgia based on their contribution to the green economy.
The winners of the 2019 Energocredit Awards are:
The GEFF will contribute to the development and strengthening of the green economy in Georgia. With a total budget of US$ 54 million (€49 million), the facility will support investments in energy efficiency, climate mitigation and adaptation by small and medium-sized enterprises, corporations and residential households by making loans available through local partner banks.
The EBRD is a leading institutional investor in Georgia. Since the start of its operations in the country, the bank has invested over €3.5 billion in 237 projects in the financial, corporate, infrastructure and energy sectors, with 89% of these investments in the private sector.
The full article is accessible here.
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