Accra: The Sustainable Use of Natural Resources and Energy Finance (SUNREF) programme, implemented with the financial support of the European Union and Agence Fran§aise de D©veloppement (AFD), has ended in Accra. The Programme marked a significant milestone in Ghana's efforts to promote sustainable finance, climate-friendly investment, and private sector-led green growth.
According to Ghana News Agency, the programme delivered measurable climate and environmental benefits in line with Ghana's national energy and climate policies. Through SUNREF Ghana, partner banks GCB Bank and Cal Bank enhanced their capacity to assess and finance sustainable projects. It combined dedicated credit lines of 30 million EUR from AFD, and two million EUR for the technical assistance facility from the European Union Africa Infrastructure Trust Fund. It also included an investment grant of 2.4 million EUR to provide additional incentives to improve the financial viability of eligible green investments and support the adoption of cleaner and more efficient technologies.
The programme supported the completion of seven projects representing a total loan portfolio of USD 20 million. In addition, four projects, with an estimated loan value of USD 5.5 million, are currently under assessment by the partner banks. The completed projects have achieved measurable climate and energy outcomes, including estimated annual energy savings of 7,736 MWh. It also enabled the installation of 0.8 MW of renewable energy capacity and generated annual greenhouse gas emissions reductions of approximately 139,020 tons of CO2, significantly exceeding the programme's initial target of 13,300 tons of CO2 equivalent.
The programme demonstrates how EU and AFD-supported financial instruments can mobilize local financial institutions and businesses to deliver concrete climate and development outcomes. Mr. Rune Skinnebach, the EU Ambassador to Ghana, said it was a transition from a supported programme to a sustainable green finance ecosystem that could continue to grow on its own. He emphasized that SUNREF Ghana was designed with the clear objective of moving climate action from policy papers into real investments, from intentions into concrete projects, and from European, French, and Ghanaian public ambition into private sector leadership.
Madam Eunice A. Biritwum, the Acting Executive Secretary of the Energy Commission, highlighted that SUNREF's most significant outcomes lay in the institutional and market changes it had catalyzed. She stated that blended finance was a powerful tool for de-risking renewable energy and energy efficiency investment. She also noted the essential role of technical assistance in building sustainable pipelines for bankable green projects and stressed the importance of strong environmental and social safeguards for long-term impact and investor confidence. "Partnerships built on trust, consistency, and shared responsibility are the true currency of success," she added.
Madam Diarra Dim©-Labille, the French Ambassador, expressed pride in supporting Ghana's effort to build a resilient, low-carbon, and inclusive economy through the AFD and in close cooperation with the European Union. She noted that SUNREF Ghana had demonstrated how public finance could strategically mobilize private capital to deliver concrete clean climate and development outcomes. The Ambassador affirmed France's commitment to continue accompanying Ghana on this journey through AFD, Team Europe, and ongoing dialogue and partnership.
SUNREF Ghana was hosted by the Energy Commission and designed to promote private sector investment in renewable energy, energy efficiency, and environmentally sustainable projects.