- Development & Aid
- Economy & Trade
- Human Rights
- Global Governance
- Civil Society
Saturday, March 23, 2019
SEOUL, May 17 2018 - The Global Green Growth Institute (GGGI), in 2017, helped mobilize over half a billion USD for green investments that aim to support developing countries and emerging economies transition toward environmentally sustainable and socially inclusive economic growth.
According to the GGGI 2017 Annual Report, published today, GGGI contributed to the mobilization of USD 524.6 million in green investments in Ethiopia, India, Indonesia, Rwanda and other countries in which the Seoul-based international organization operates.
“This is a record achievement for GGGI, representing more than 11 times the organization’s actual budget in 2017,” said Dr. Frank Rijsberman, GGGI Director-General. “Working closely with partner countries over the years to develop and implement policies that enable the environment to for green growth investment, GGGI is now demonstrating it growing capacity to access and mobilize finance for projects that deliver strong impact.”
Of the finance GGGI helped mobilize in 2017, USD 412 million came from the private sector. GGGI delivered key technical support to design and de-risk bankable projects that attracted private investment in a number of partner countries.
In Ethiopia, GGGI produced a pipeline of projects for the Mekelle City Water Project that helped attract USD 337 million from the international private sector.
GGGI also supported green and climate finance mobilization in 2017, by helping a number of partner countries to develop National Financing Vehicles in the form of funds and other financial instruments that attract international investment.
In Mongolia, GGGI led the design of the Mongolian Green Credit Fund to access climate finance that will help achieve Nationally Determined Contributions to the Paris Agreement.
To assist Vanuatu to meet its energy and sustainability targets, GGGI provided support for the operationalization of the National Green Energy Fund.
GGGI’s green finance achievements in 2017 marked a 5-fold increase from the previous year. In 2016, GGGI contributed to the mobilization of USD 105 million in finance.
The 2017 Annual Report is available online, and includes detailed project by project reporting on each of the 49 programs and projects GGGI delivered during the first year of organization’s Work Program and Budget 2017-2018.
Visit http://report.gggi.org/2017/ to learn more.
Read the 2017 Annual Report Key Messages here.
About the Global Green Growth Institute (GGGI)
Based in Seoul, GGGI is an intergovernmental organization that supports developing country governments transition to a model of economic growth that is environmentally sustainable and socially inclusive.
GGGI delivers programs in 27 partner countries with technical support, capacity building, policy planning & implementation, and by helping to build a pipeline of bankable green investment projects.
IPS is an international communication institution with a global news agency at its core,
raising the voices of the South
and civil society on issues of development, globalisation, human rights and the environment
Copyright © 2019 IPS-Inter Press Service. All rights reserved. - Terms & Conditions
You have the Power to Make a Difference
Would you consider a $20.00 contribution today that will help to keep the IPS news wire active? Your contribution will make a huge difference.