Serving up a Green Energy Mix in Armenia
The first solar plants ever built in Armenia. This makes the development of alternative energy resources so…
Green finance needs to be delivered across the full breadth of financial instruments and investments, to all types of final recipients, to most effectively tackle climate change. The GGF, in collaboration with partner microfinance institutions (MFIs) and other financial service providers focused on micro and small sized enterprises (MSE), are exploring diverse ways to support households’ and small businesses’ access to green finance through a dialogue series called “Green for All,” alongside complementary technical assistance to build these capacities.
The inaugural event in Belgrade, Serbia, in September 2019, brought together representatives from across the microfinance ecosystem to focus on the importance of delivering green small-scale finance to the private and business sectors. The GGF now plans to host similar events throughout the region to promote green investments for microenterprises and households and help financial institutions integrate green lending principles into day-to-day practices.
MFIs and MSE-focused financial institutions have been a vital focus for the GGF since its inception, with GGF funding providing more than 25,000 sub loans through more than EUR 250 million in disbursements for energy efficiency measures or small-scale renewable energy projects. Over 60% of the GGF portfolio is dedicated to financing for households and small businesses, highlighting the importance of green investments to this specific target group in bringing about environmental benefits.
Green finance needs to be delivered across the full breadth of financial instruments and investments, to all types of final recipients, to most effectively tackle climate change.