UNDP Ghana invites interested national financial institutions or eligible entities to submit Expressions of Interest (EOIs) in respect of the requirements described below. The purpose of the REOI is to identify national partners who wish to participate in the UNDP global project of Energy Efficiency Revolving Fund (EERF) for the Multilateral Fund of the Montreal Protocol. 

Deadline for the Submission of EOI: October 31, 2025, 5pm GMT

Contact Person for correspondence and clarifications: Akosua Aninakwa:  akosua.bireduaa.aninakwa@undp.org

Introduction 

The United Nations Development Programme (UNDP) is the knowledge frontier organization for sustainable development in the UN Development System and serves as the integrator for collective action to realize the Sustainable Development Goals (SDGs). UNDP’s policy work carried out at HQ, Regional and Country Office levels, forms a contiguous spectrum of deep local knowledge to cutting-edge global perspectives and advocacy.

UNDP is supporting the Government of Ghana for the implementation of the Kigali Amendment of the Montreal Protocol through programmes funded by the Multilateral Fund (MLF). In May 2025, the 96th meeting of the Executive Committee (ExCom) approved a preparation project for UNDP to develop the Energy Efficiency Revolving Fund (EERF) for Colombia, Jordan and Ghana. The description of the EERF can be found in the Part C of ExCom document 95/87[1] and its update in document 96/57[2].

Application Process

Interested national financial institutions should submit their Expressions of Interest to helpdesk.gh@undp.org by 5pm GMT on Friday, 31 October 2025.

The EOI should include the following information:

1. A cover letter expressing interest in participating in the EERF.

2. Profile of the Institution

• Year of establishment, proof of registration and valid license

• Legal status summary including:

• Current ownership structure 

• A simple organizational chart highlights reporting lines and where the risk management and lending functions sit within the institution.

• Audited financial statements for the last three completed fiscal years

• Geographic presence (number of branches and locations, HQ, subsidiaries)

• Regulatory compliance and oversight:

 Confirmation of adherence to applicable Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

• Latest available data on the credit portfolio default rate (non-performing loan ratio) 

3. Proposed operational framework of EERF, relevant experience and a preliminary analysis, including:

• Experiences of existing Energy Efficiency Programmes or revolving fund mechanism if any.

• Any experience with UN Agencies or International Projects.

• Proposed structure of EERF.

• Expected return on investment (e.g., interest or fee income from end users’ loans).

• Proposed end users’ loan terms, eligibility criteria, and risk mitigation measures.

• Expected repayment structures, including typical loan tenors, payment schedules (monthly/quarterly), and any grace periods.

• Stakeholders and ender-user engagement plan

• A brief analysis of market pattern and potential size for energy efficiency lending on cooling systems/products through a dedicated revolving fund for 8 years (including the first year for legal process and lending preparation and the last year for completion), expected end-user demand, and key barriers or opportunities based on available market data including the information in the Kigali Implementation Plan (KIP). Annex 1 is a brief introduction of the KIP. More information on the KIP could be available based on the request.

• The focal point for EERF.

Eligibility Criteria

To be eligible for consideration, the financial institution must have:

• Valid license for lending, 

• Good governance structure and risk management system 

The proposal must be

• Complete

• Relevant

• Submitted on time

Evaluation Process and timeline 

• Any proposal received after the stipulated deadline will not be considered for review.

• Proposals will go through a first selection process based on a PASS/FAIL modality – any proposal that does not meet one or both criteria below would be failed and not advanced to the next stage:

  • Proposal completeness covering Sections 1-3 as described above 

  • Proof of registration and valid license.

• Submissions that pass the first selection, will be evaluated based on the information in the proposals by a team of UNDP experts. Applicants will be contacted for relevant follow-up information or clarification questions within one month of submission including information to support due diligence checks.

• Successful applicants will be invited to work with UNDP team for the development of the EERF proposal for the Multilateral Fund which will be submitted by early March 2026 for consideration by the 98^th meeting of the Executive Committee of the Multilateral Fund in June.

Annex: Brief introduction of the Kigali Amendment Plan (KIP)

Ghana’s Stage I Kigali HFC Implementation Plan (KIP) [3] lays the groundwork for reducing HFC consumption by 10% from its established baseline of 1.8 million CO₂-eq tons by 2029. The Environmental Protection Authority (EPA), through the National Ozone Unit (NOU), leads this initiative, supported by regulatory updates such as mandatory refrigerant recovery, licensing reforms, and import quotas. HFC consumption in Ghana is predominantly driven by the refrigeration and air-conditioning (RAC) servicing sector, with mobile air-conditioning (MAC) being the highest consumer. Refrigerants like HFC-134a and R-410A dominate usage across key subsectors, with total consumption steadily rising due to HCFC phase-out and economic growth.

The implementation strategy incorporates regulatory enforcement, technician training, technology demonstration, and sector-specific interventions. Ghana is revamping its RAC curriculum to meet international standards, enhancing technician capacity through certified training on low-GWP refrigerants like CO₂ and R-290, and supporting reclamation centers for refrigerant recovery. Special attention is given to the firefighting sector, where the high-GWP HFC-227ea will be newly regulated, with training and awareness initiatives underway. Pilot projects will showcase R-290 commercial refrigeration systems to promote sustainable alternatives, alongside gender mainstreaming to foster inclusive participation in the RAC and firefighting sectors.

Project coordination involves a multi-stakeholder approach with support from UNDP and UNEP, and a dedicated project management unit. Activities are designed to curb projected HFC growth under the business-as-usual scenario and ensure compliance with Montreal Protocol targets. Measures such as customs training, updated energy-efficiency regulations, and targeted outreach campaigns aim to reinforce behavioral and structural changes. Ultimately, Stage I of Ghana’s KIP supports a leapfrogging strategy from HCFCs to low-GWP technologies, contributing to broader climate and energy goals while preparing the country for deeper reductions in subsequent stages.