Financing Energy Efficiency and Renewable Energy Investments for Climate Change Mitigation

Project Summary

This project is designed to establish a dedicated financial facility for energy efficiency and renewable energy in Eastern Europe and CIS that can serve as a vehicle for the large-scale participation of private sector investors in partnership with public entities. The proposal is to support the development of a US$ 250 million public-private equity Fund that will be able to complement other funding schemes (including those implemented or contemplated by the GEF and/or other supporting institutions) and, as a result, leverage an investment volume of upt to US$ 2 billion for energy efficiency and renewable energy projects.

Project Details

GEF Project ID
2619
Project Type
Full-size Project
Status
Cancelled
Country
Regional
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
United Nations Environment Programme
Executing Agencies
UN Economic Commission for Europe (UNECE)
GEF Period:
GEF - 3
Approval Fiscal Year:
2006

Financials

Project Preparation Grant Amount
0 USD
GEF Project Grant
3,000,000 USD
Co-financing Total
9,060,000 USD
GEF Agency Fees
270,000 USD
Total Cost 12,060,000.00 USD

Project Timeline

Project Cancelled
13 Jan 2020