The Green for Growth Fund, Southeast Europe (“GGF” or the “Fund”) announced today that it has been granted the LuxFLAG Environment Label by LuxFLAG, an independent Fund Labeling Agency based in Luxembourg. The Label, launched in June 2011, certifies that the GGF invests in a responsible manner at least 75 per cent of its assets in environment-related sectors. The GGF – initiated in December 2009 by the KfW Entwicklungsbank (The German Development Bank) and European Investment Bank with the financial support of the European Commission and the European Bank for Reconstruction and Development – is one of the first investment funds to receive the Label.

LuxFLAG was formed in Luxembourg in 2006 as an independent, non-profit association, backed by representatives from the private sector, non-governmental organizations and the State of Luxembourg to encourage private investment in investment funds that are active in sustainable development. To this end, LuxFLAG has launched the LuxFLAG Microfinance Label (in July 2006) and LuxFLAG Environment Label as quality guarantees ensuring investors that they are truly investing in microfinance and environment sector, respectively. The Labels are not a guarantee of performance nor do they constitute a recommendation to invest.

Monika Beck, Chairperson of the GGF’s Board of Directors, said: “The GGF is pleased to have received the LuxFLAG Environment Label. This Label is very important to us and our investors. It is clear evidence of the GGF’s commitment to the mission of supporting and increasing financing for energy efficiency and renewable energy projects in Southeast Europe.”