Green Climate Fund makes €87m available to EBRD Green Cities

The European Bank for Reconstruction and Development and the Green Climate Fund (GCF) have signed an agreement releasing €87 million of GCF funds to support the EBRD’s Green Cities programme.

It represents the first tranche of a €228 million facility.

Under the agreement, nine countries – Albania, Armenia,Georgia, Jordan,Moldova, Mongolia, North Macedonia, Serbia and Tunisia - are eligible to receive support. This support comes through Green City Action Plans, which targets cities’ most pressing challenges through investment and policy actions; grants and concessional funding for investments in sustainable infrastructure; technical support and capacity building; and roadmaps for cities to access green finance.