The European Bank for Reconstruction and Development (EBRD) has launched a new programme, “Greening financial systems: delivering climate finance for all”, with a total expected value of US$ 634 million. The initiative will be implemented in 13 countries across the EBRD regions, including Armenia, Egypt, Georgia, Jordan, Kazakhstan, the Kyrgyz Republic, Moldova, Mongolia, Morocco, North Macedonia, Serbia, Tajikistan and Uzbekistan.
As part of the programme, the EBRD has signed an agreement with the Green Climate Fund (GCF) for a US$ 200 million contribution, which includes concessional loans, incentive grants and technical assistance. This partnership will help make green finance more affordable and accessible to a wide range of beneficiaries, such as households, smallholders, micro, small and medium-sized enterprises (MSMEs), municipalities, utilities and larger corporates.
The programme will channel concessional finance and advisory services through partner financial institutions to support investments in energy efficiency, renewable energy, sustainable construction and climate-resilient technologies. By building on the success of the US$ 1.4 billion Green Economy Financing Facility (GEFF), the new initiative seeks to create a transformative market shift towards sustainable finance.
Partner institutions will benefit from concessional funding, training and climate-risk tools to expand green lending opportunities. They will also develop the skills and institutional capacity to independently deliver climate finance products, embedding them into long-term business models. To accelerate systemic change, financial incentives will be offered to institutions that commit to climate transition plans aligned with the Paris Agreement.
The programme also promotes regional and gender inclusion, with commitments to provide at least 30 per cent of subloans outside capital cities and at least 20 per cent to women-led projects. Since 2017, the EBRD and the GCF have worked together to mobilise over US$ 5.2 billion in climate finance, supporting innovative mitigation and adaptation projects across three continents.
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