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Detail of GEF Project #1316
| GEF Project ID | 1316 |
| IBRD PO ID | 505970 |
| Funding Source | GEF Trust Fund |
| Project Name | Energy Efficiency Co-Financing Program 2 (HEECP2) |
| Country | Hungary |
| Region | Europe and Central Asia |
| Focal Area | Climate Change |
| Operational Program | 5 |
| Approval Date | 2001-10-03 |
| GEF Agency Approval Date | 2001-10-22 |
| Project Status | IA Approved |
| Executing Agency | International Finance Corporation |
| Description | Project rationale and objectives: (i) Reduce Hungary's emissions of greenhouse gases (short-term measure) by improving energy efficiency for end-user applications(ii) Create local capacity to fund further energy efficiency projects and applications. (iii) Encourage the replication of the project elsewhere and raise public awareness about energy efficiency, as part of the country's climate change response strategy |
| Implementation Status | Extension of HEECP2 noted on the first HEECP program. Guarantee Facility Agreements operational with 4 Hungarian banks, representing $11million in guarantee commitments. Additional agreements under negotiation with two more FIs. TA program well underway and new transactional models demonstrated for the blockhouse sector, in addition to municipal street lighting, cogeneration, hospital, and industrial project models executed under the facility. Recent innovative financial products developed with partner banks have established special purpose credit lines with individual ESCOs to enable streamlined financing of a portfolio of EE transactions with individual project developers utilizing a streamlined approval process by IFC and the participating bank. IFC presently in discussions with GEFSEC regarding integration of HEECP operations and product with CEEF. |
| GEF Project Grant | 700,000 USD |
| GEF Grant | 700,000 USD |
| Cofinancing Total | 93,200,000 USD |
| Project Cost | 93,900,000 USD |
| GEF Agency Fees | 240,000 USD |
| GEF Project (CEO Endo.) | 700,000 USD |
| Cofinancing Total (CEO Endo.) | 93,200,000 USD |
| Project Documents |
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