Introduction of a Green Credit Line 

The purpose of this assignment is to provide – through partner financial institutions (PFIs) – USD 25 million in medium to long-term loans to small and medium enterprises (MSMEs) and households (both of which are end-beneficiaries) for private investments in renewable energy (RE) and energy efficiency (EE) measures. The funds are intended to contribute to the development of a sustainable green finance market in Ghana as one of the preconditions for promoting RE and EE markets for which there is substantial potential in Ghana.

Econoler is supported by KITE and OSJ as subconsultants for this assignment. The tasks of Econoler under this assignment are to:

• Onboard PFIs and preparation of project portfolios:

• Onboard PFIs and project origination through different channels;

• Develop an operations manual for the credit line;

• Conduct impact and environmental evaluations of all projects to confirm eligibility;

• Support project sponsors in the preparation of financing applications.

• Develop communication tools/marketing efforts to promote the green credit line and support the business development of PFIs:

• Support the marketing and business development of partner banks;

• Develop communication tools/marketing efforts to promote the credit line;

• Support partner banks and local partners in promoting the green credit line;

• Mobilize partner institutions as well as local technical and economic experts;

• Organize awareness-raising and promotional activities.

• Build capacity and transfer knowledge:

• Support the implementation of an environmental and social action plan toward the establishment of an environmental and social (E&S) policy;

• Provide training to PFIs on green project financing;

• Coordinate with other projects and policy dialogue;

• Transfer capacity through teamwork within the Ghana Energy Commission;

• Deliver training/seminars for other stakeholders.

It is expected that the green credit line will also contribute to the operationalization of the Ghana Sustainable Banking Principles – Environmental and Social Risk Management (ESRM) Guidelines launched by the Bank of Ghana to strengthen sustainable lending opportunities and practices in Ghana. It will also support the achievement of Ghana’s National Financial Inclusion Strategy (NFIS) by supporting PFIs in developing, piloting, and launching green finance products adapted to the needs of underserved customers.