IFC, as an Executing Agency of the World Bank, proposes a unique and ambitious global financing platform, the Hotel Green Revitalization Program (“HGRP”) that will incentivize retrofit greening of 760+ SME hotels through 60+ financial intermediaries in more than 30 countries, while also providing a vital rapid COVID-response for medium tenor, local currency relief financing for sector devastated by the economic consequences of the pandemic. HGRP aims to create emissions savings of 1.8 million tonnes of CO2e, setting the industry on a greener and more sustainable path.
Project Details
GEF Project ID
10766
Country
Global
Implementing Agencies
The World Bank
Status
Cancelled
Region
Global
Executing Agencies
IFC, Financial Intermediaries (Private Sector)
GEF Period
GEF - 7
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund
Project Documents
Financials
USDCo-financing Total
802,500,000
GEF Project Grant
9,132,420
GEF Agency Fees
867,580
Timeline
Received by GEF
Concept Approved
Project Cancelled