GCF Greening Financial Systems (GFS) (EBRD-56002)

Countries
  • Armenia
  • Egypt
  • Georgia
  • Jordan
  • Kazakhstan
  • Kyrgyzstan
  • Moldova
  • Mongolia
  • Morocco
  • North Macedonia
  • Serbia
  • Tajikistan
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 12, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Partner financial institutions ("PFIs") to be determined
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 434.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 620.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 2, 2025

Disclosed by Bank Jan 8, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the project will consist of a $620 million allocation, of which $434 million will be provided by the Bank's ordinary resources and $186 million by the Green Climate Fund ("GCF"). The Framework will be implemented in Armenia, Egypt, Jordan, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Mongolia, Morocco, North Macedonia, Serbia, Tajikistan, and Uzbekistan (collectively referred to as the 13 "Eligible Countries").

The Framework will be provided in the form of loans to partner financial institutions ("PFIs") for their investments in low greenhouse gas emissions and climate-resilient development, through gender-responsive on-lending to private and public sector beneficiaries (including individuals, MSMEs and mid-cap enterprises, technology suppliers, producers, vendors and installers/service providers, construction companies, housing associations and municipalities).

The GCF GFS Framework will provide an integrated financial platform designed to further increase the amount of financing provided by the private sector to climate-related projects in a gender-responsive manner. Furthermore, the Framework will create an enabling environment encouraging the development of advanced climate practices by local PFIs, including the adoption of transition plans, conducive of a systemic transition towards a climate-compatible financial system.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This framework is not categorised; however, sub-projects will be classified as Category FI under the EBRD's Environmental and Social Policy 2019 and will undergo environmental and social due diligence. New PFIs must complete the EBRD environmental and social due diligence questionnaire while existing PFIs' previous annual reports will be reviewed to address any gaps.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A $620 million allocation, of which $434 million will be provided by the Bank's ordinary resources and $186 million by the Green Climate Fund ("GCF")

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Borrowers will be PFIs (Partner financial institutions), including commercial banks, microfinance institutions, and leasing companies.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

How it works

How it works