The European Bank for Reconstruction and Development (EBRD) has introduced a new programme titled “Greening financial systems: delivering climate finance for all,” aimed at expanding access to affordable green finance and accelerating climate action across multiple regions. The initiative is expected to deliver US$ 634 million in green financing and will be implemented in 13 countries within the EBRD’s operational regions: Armenia, Egypt, Georgia, Jordan, Kazakhstan, the Kyrgyz Republic, Moldova, Mongolia, Morocco, North Macedonia, Serbia, Tajikistan, and Uzbekistan.
As part of this effort, the EBRD has signed an agreement with its long-term partner and donor, the Green Climate Fund (GCF), for a US$ 200 million contribution. This funding includes concessional loans, incentive grants, and technical assistance to make sustainable investments more affordable and accessible to diverse beneficiaries. These beneficiaries range from households, smallholders, and micro, small, and medium-sized enterprises (MSMEs) to municipalities, utilities, and large corporations.
The programme will channel concessional finance and advisory services through partner financial institutions to support a variety of green investments, including energy efficiency measures, renewable energy projects, sustainable construction, and climate-resilient technologies. By providing these institutions with concessional funding, climate-risk tools, and specialised training, the programme seeks to unlock green lending opportunities and strengthen their ability to independently offer green finance products.
To encourage systemic change and ensure long-term impact, the programme will provide financial incentives to partner institutions that commit to implementing climate transition plans aligned with the Paris Agreement. Building on the proven success of the US$ 1.4 billion Green Economy Financing Facility (GEFF)—which included a US$ 378 million contribution from the GCF—the new initiative aims to bring about a transformative shift in the market for sustainable finance.
The programme also emphasises inclusivity and equitable access to climate finance. At least 30 per cent of subloans will target areas outside capital cities, while at least 20 per cent will be directed toward women-led projects, supporting both regional development and gender equality. Since 2017, the EBRD and GCF have mobilised more than US$ 5.2 billion in climate finance across three continents, supporting projects that address both mitigation and adaptation challenges. This new programme continues their joint commitment to expanding sustainable investment opportunities, driving climate resilience, and embedding environmental responsibility into financial systems worldwide.
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