Financing Public Building Efficiency

Project Objective: The EBRD-GEF project will reduce greenhouse gas emissions in Romania by improving energy efficiency in public buildings. The project will capitalize on the existing positive policy environment by addressing barriers to municipal project financing through a targeted technical assistance program. The project will help local authorities overcome common obstacles to financing energy efficiency improvements such as allocation of resources for energy audits and project preparation, tendering procedures, and management of larger-scale programs that may need additional dedicated resources. Investment barriers will be addressed through the use of Energy Performance Contracts (EPC) and the introduction of forfeiting as a financing mechanism, which together will enable private contractors to finance and implement the necessary energy saving measures.