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The European Bank for Reconstruction and Development (EBRD) has reaffirmed its commitment to scaling up green intermediated financing by approving additional headroom for the next phase of its successful large-scale partnership with the Green Climate Fund (GCF). An extension of the successful cooperation by US$497 million supports thousands of individual investments in technologies that reduce emissions and enhance resilience to climate change.
The GCF-EBRD Green Energy Financing Facilities (GEFF) programme, inaugurated in 2018, spans three regions and directs new climate finance flows to Armenia, Egypt, Georgia, Jordan, Republic of Moldova, Mongolia, Morocco, Serbia, Tajikistan and Tunisia. Sums lent to local partner financial institutions are on-lent to private sub-borrowers for investments in climate change mitigation and adaptation projects.