Applications to the GreenWorks Fund for Just Transition (GFJT) are now open to Small & Growing Businesses
Hivos’ GreenWorks program contributes to a Just Green Transition by supporting local climate change adaptation and mitigation solutions that create new and/or support existing green jobs for 9000 young women and men in North Africa.
The GreenWorks Program is launching a GreenWorks Fund for Just Transition (GFJT) aiming to support Small & Growing Businesses that contribute to the green transition process in Algeria, Egypt or Tunisia.
The GFJT is a fund managed by Hivos’ GreenWorks Program that offers conditional equity-free cash induction to support the scalability of Small and Growing Businesses (SGBs) that contribute to the Green Transition process while incentivizing other potential financiers (Commercial and Non-Commercial) to co-invest in the GFJT supported SGBs.
In order to make this free-equity fund as much beneficial as possible, the GFJT can match between 50% to 100% of commercial and non-commercial investments about to be secured by Green SGBs with a ceiling of EUR 50,000.
For example, for every EUR 1 secured by the SGB, the GFJT can offer between EUR 0.5 and EUR 1. The specific ratio will be decided based on the quality of the application and the potential of green job creation.
The beneficiaries of this fund can be Small and Growing Businesses (SGBs) operating in the green economy* (operating in renewable energy, sustainable food and waste management) that fit the following criteria:
- SGBs must be legally incorporated and registered in Algeria, Egypt and/or Tunisia.
- SGBs must have a minimum of 3 full time employees and expect to create new or support 20 existing jobs within 6 months.
- SGBs must have other financing leads in their pipeline where the GFJT funds can be used to leverage (for example: advanced negotiations with angel networks or VCs, loan applications to commercial banks, applications to other grants etc…)
Here below the whole application process and selection different milestone for the interested applicants to the GFJT:
For those who are Interested, they should submit the documents in the checklist below no later than June 15, 2022 to email@example.com
- GFJT application Form: download and fill-out the application
- Budget: Kindly use this template for the proposed project
- Proof of financing leads: Letters of Intent, links to grants being pursued and/or loan applications
If you have any further questions, please send them to firstname.lastname@example.org, and we will answer them them on the FAQ section on the GFJT Webpage which will be updated weekly.
We are also happy to schedule one on one calls to answer specific questions when needed – Based on availability of the team
* Please note that the selected applicants will have to go through a further assessment to verify the information submitted in their application and to ensure their capacity to handle the funding offered by the GFJT