The mission of the Green for Growth Fund is to contribute, in the form of a public-private partnership with a layered risk/return structure, to enhancing energy efficiency and fostering renewable energies in the Southeast Europe Region including Turkey, in the European Neighbourhood Region-East, and in the Middle East and North Africa (MENA) predominantly through the provision of dedicated financing to businesses and households via partnering with financial institutions and direct financing.
GGF is a unique public-private partnership established in December, 2009 to promote energy efficiency in its target region and to reduce CO2 emissions. GGF's investments seek to achieve a 20% reduction in energy consumption and/or a 20% reduction in CO2 emissions, by:
As part of their mission, GGF assigned Finance in Motion to undertake a market analysis for Lebanon in order to seek optimal entrance to the market’s energy efficiency and renewable energy financing schemes.
Finance in Motion (FiM) is an impact investing advisor exclusively focused on development finance.They are one of the world's leading asset managers in this field, advising funds with around EUR 1.6 billion in assets under management.
It is in this background that EEG was chosen to undertake a gap analysis of the existing Lebanese Energy Efficiency /Renewable Energy financing schemes and potentially identify additional complementary measures and define underlying lending approaches which have a good financial potential for the GGF in the country.
The consulting work which was contracted by FiM was initiated in October 2016 and completed in March 2017.