CONFIDENTIAL

Enabling Energy Finance:Green for Growth Fund, Southeast EuropeEnergy Efficiency (EE) and Renewable Energy (RE)

Agenda Panel 4, Istanbul, 23rd November 2012

Mr. Peter Coveliers - Chairman of the Green for Growth Fund (GGF) Investment Committee

CONFIDENTIAL

Initiating Shareholders

Shareholders

Donors and Shareholders

2

TA Facility Donors

• Committed Fund Volume: EUR 191 mil ̴�• Prospective Fund Volume over the next five years: EUR 420 mil• Domicile: Luxembourg SICAV-SIF• First closing: December 17 2009

CONFIDENTIAL

Governance Structure

3

CONFIDENTIAL

GGF Target Region

Finance in Motion office4

CONFIDENTIAL

Objectives and Instruments

5

Objectives

Minimum 20% reduction in energy consumption

Minimum 20% reduction in CO2 emissions

Promotion of renewable energy

Partners

Financial Institutions

Non-Financial Institutions (project finance)

Instruments

Medium to long-term senior loans

Subordinated loans

Letters of credit

Guarantees

Mezzanine debt instruments

Local debt securities

Equity

Technical Assistance support

CONFIDENTIAL

GGF’s three year investment, in building its capacities and reputation in the region, is paying off in the form of portfolio growth and successful TA projects

Fund Performance

6

EUR

mill

ion

in O

utst

andi

ng P

ortf

olio

Num

ber

of T

A pr

ojec

ts

* Projected Values

CONFIDENTIAL

As a public-private partnership (PPP), GGF can leverage donor funds, in the form of first-loss junior C shares, and IFI funds, in the form of mezzanine B shares, to enable flow of private capital, into senior A shares and notes.

Capital Structure - Overview

7

CONFIDENTIAL

Guiding Principles of a new PPP structure

How can a Public-Private Partnership Help?

Donor support a limited and valuable resource Complimentarily – address underserved market segments Additionality – work hand in hand with existing programs “Crowd-in” private investors for demonstration effects Address the larger ecosystem with a multi-level approach Non-distortion – work with already functioning markets Double bottom line

CONFIDENTIAL

PPP in Practice

Banks

PrivateInvestors

Equity Senior DebtMezzanine

PROJECT SPV

PROJECT SPV

Enabling and Enhancing Private Investment

CONFIDENTIAL

Technical Assistance

10

CONFIDENTIAL

Guiding principles and mission of the TAF

Support the Fund‘s mission and strategic direction Produce synergy effects with investments Ensure independence Adhere to principles of transparency

GGF Technical Assistance Facility (TAF)

11

The TAF is meant to foster the development activity of the GGFand – inter alia – to assist partner institutions (PIs) in their

development in the area of EE and RE toward the achievement ofthe Fund‘s mission.

The TAF is meant to foster the development activity of the GGFand – inter alia – to assist partner institutions (PIs) in their

development in the area of EE and RE toward the achievement ofthe Fund‘s mission.

TA Facility Donors

CONFIDENTIAL

• 56 TA projects under management

• Volume of projects under management: EUR 3.5 mil

• Working with 30 Partner Institutions (or potential PIs): 26 FIs + 4 NFIs

• Utilizing 19 different service providers and consulting companies

• Committed TAF Fund Volume EUR 7.5 mil

Key Figures

12

TA measures approved in 2012 in SEE and ENR

by % of projects

TA measures realized in 2011 in SEEby % of projects

CONFIDENTIAL

The Role of Technical Assistance

Banks

PrivateInvestors

Equity Senior DebtMezzanine

PROJECT SPV

PROJECT SPV

Supporting the Fund‘s Mission

CONFIDENTIAL

Thank you for your attention!