The FINANCIAL — The Green for Growth Fund (GGF), to which the EU is a donor, has partnered with the Renewables Academy AG (RENAC) to pilot the GGF Green Finance Expert online training in green finance. This innovative training aims to help bankers who are representatives of GGF partner institutions, and directly involved in on-lending of financing provided by the GGF, to identify investments that have a positive environmental impact.
GGF Chairman Olaf Zymelka said: “When the pilot training was designed, we were aiming for 30 participants but have ended up with more than 40 from 16 partner institutions from almost all countries of our target region of the Eastern Neighbourhood and Southeast Europe. This shows the high demand for training on green finance topics.
The online training consists of five modules, which include an introduction to green finance and provide participants with the ability to assess energy efficiency and renewable energy projects from technical, economic, as well as environmental and social perspectives.
The GGF Green Academy, initiated by the GGF, provides capacity building and support to partners in enhancing their knowledge on topics related to sustainability, energy efficiency, renewable energy, resource efficiency and finance.
The Green for Growth Fund, part of the EU4Energy Initiative, invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets across Southeast Europe, the Caucasus, Ukraine, the Republic of Moldova, the Middle East and North Africa. The fund provides such financing directly to renewable energy projects, businesses and municipalities, or indirectly via selected financial institutions. The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Development Bank of Austria OeEB.