In North Macedonia, the Green Finance Facility (GFF), supported by the UN Joint SDG Fund, is demonstrating how strategic investment can drive measurable progress toward sustainability. By turning every dollar invested into US$12.65 in private investment and development benefits, the initiative highlights how innovative financing can mobilize markets and accelerate the clean energy transition. Through partnerships with the European Bank for Reconstruction and Development, the GFF has leveraged US$5.3 million in private equity for renewable energy and efficiency projects. Additionally, the facility has generated US$2.1 million in environmental and institutional benefits, reinforcing local systems, cutting emissions, and strengthening climate resilience.
The GFF exemplifies the UN Joint SDG Fund’s value-for-money approach, where each dollar becomes a multiplier for development impact. It represents more than a financial tool—acting as a transformative engine that supports sustainable growth and long-term green finance.
In Uruguay, the Renewable Energy Innovation Fund (REIF) is powering the country’s “second energy transition.” Partnering with seven major banks that represent 80 percent of the national financial sector, REIF has achieved a 1:3 co-financing ratio with private institutions. This collaboration is channeling investment into clean technologies such as electromobility, energy storage, and industrial decarbonization. Beyond financing, REIF is reshaping banking practices by integrating impact and gender analysis into credit decisions and expanding financing opportunities for women entrepreneurs in the energy sector. The initiative aligns national decarbonization goals with business profitability, achieving triple environmental, social, and economic impact.
In Zimbabwe, the Renewable Energy Fund (ZimREF) is catalyzing private sector investment in solar and clean energy initiatives. With US$17 million mobilized from the UN Joint SDG Fund, Old Mutual, and government partners, the fund is advancing a pipeline of 50 renewable energy projects, 17 of which are under active development. Combining loans, guarantees, and technical assistance, ZimREF is unlocking finance for women- and youth-led enterprises while advancing national energy reforms. Early results are already visible in rural areas, where renewable energy is providing power for households, small businesses, and local industries, improving livelihoods and supporting inclusive growth.
From North Macedonia to Uruguay and Zimbabwe, the UN Joint SDG Fund’s blended finance model is proving its ability to de-risk investment, attract private capital, and accelerate clean-energy transitions. By combining concessional loans, guarantees, and technical assistance, these facilities are boosting market confidence, promoting gender inclusion, and scaling renewable solutions. Together, they illustrate how catalytic financing can transform public investments into powerful engines for sustainable growth—delivering lasting environmental, social, and economic impact.
