Boosting competitiveness through energy efficiency in Armenia and Ukraine

01-07-2019
Photo: Unsplash.com
Photo: Unsplash.com

The Green for Growth Fund (GGF), to which the EU is a donor, has provided flexible and cost-effective solutions to a variety of businesses in Armenia and Ukraine to finance leasing of new energy-efficient equipment.

The GGF operates in these countries through its local partners, such as OTP Leasing in Ukraine and ACBA Leasing in Armenia.

As a result, Armenia and Ukraine, despite their different economic landscapes, can explore their great potential to become more competitive by improving the energy efficiency of different sectors.

This is one of the success stories featured in the recently released GGF Impact Report for 2018. The report provides glimpses of the fund’s impact in terms of energy savings, CO2 emissions reduction and installation of renewable energy generation capacity. For example, the annual reductions in CO2 emissions realised through the GGF’s investments roughly translate into taking 460,000 cars off the road.

The Green for Growth Fund (GGF), to which the EU is a donor, aims to enhance energy and resource efficiency, as well as foster renewable energy, predominantly by providing dedicated financing to businesses and households through partner financial institutions and through direct financing of eligible projects.

Find out more

The GGF Impact Report for 2018

EU4Energy: Green for Growth Fund