The Financing of the Global Energy Efficiency and Renewable Energy Fund (GEEREF)

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Arno Behrens
23 June 2009
10

In an effort to address the financing gap for clean energy projects in developing countries, the Global Energy Efficiency and Renewable Energy Fund (GEEREF) was set up in late 2008 as an innovative financing instrument aimed at leveraging private investments with public funds. The purpose of this CEPS Policy Brief is to give an update on GEEREF with a special focus on its financing and possible impacts of the financial crisis. The paper concludes that the strength of GEEREF is not its current financial volume but the innovative nature of the instrument. If well implemented from the start, it may not only attract financial support from other donors, but may also serve as a role model for the creation of similar public private partnerships.