Green for Growth Fund expands its presence in Armenia 

The Green for Growth Fund (GGF) has announced the expansion of its presence in Armenia with a debut US$2 million (around €1.9 million) facility to the Armenian Leasing Company, aimed at increasing access to green financing for businesses and households. 

The facility will provide dedicated funding for energy and resource efficiency and small-scale renewable energy (RE) investments, supporting Armenia’s transition to a greener economy. 

This new partnership marks the GGF’s expansion in Armenia, reinforcing its commitment to developing green financial solutions and supporting local financial institutions in scaling sustainable investments. 

“GGF is committed to expanding green financing in Armenia by partnering with key players like Armenian Leasing Company. As a dynamically growing institution in the market and a key driving force for green investments, they are helping businesses integrate energy-efficient technologies, optimise operations, and drive long-term economic growth and prosperity in the country,” said Borislav Kostadinov, Fund Director of GGF. 

The Green for Growth Fund promotes energy efficiency and renewable energy in Southeast Europe, the Caucasus, the Middle East, and North Africa. By providing refinancing to local financial institutions, the GGF helps businesses and households to access sustainable energy solutions, fostering energy efficiency and reducing carbon emissions. The GGF was initiated as a public-private partnership by the European Investment Bank and Germany’s KfW Development Bank, with financial support from the European Union, BMZ, and other international investors.

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Press release