Short description of the overall project

The Green for Growth Fund, Southeast Europe (GGF) is expanding its geographic scope to Georgia by providing a first EUR 15 million senior loan to JSC Bank of Georgia (Bank of Georgia) for financing energy efficiency (EE) and renewable energy (RE) measures in the country.

Bank of Georgia – Georgia’s leading bank in terms of assets, loans and client deposits – is also a pioneer when it comes to energy efficiency lending. The GGF loan will initially go towards financing the construction of energy efficient buildings in the Tbilisi area. These projects alone are expected to result in primary energy savings of more than 20% vs. comparable buildings erected using conventional construction methods.