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Detail of GEF Project #2531
| GEF Project ID | 2531 |
| IBRD PO ID | 89656 |
| Funding Source | GEF Trust Fund |
| Project Name | Sustainable Energy Program |
| Country | Macedonia |
| Region | Europe and Central Asia |
| Focal Area | Climate Change |
| Operational Program | 5; 6 |
| Pipeline Entry Date | 2004-05-24 |
| PDF-B Approval Date | 2004-05-24 |
| Approval Date | 2005-09-13 |
| CEO Endorsement Date | 2006-11-27 |
| GEF Agency Approval Date | 2006-12-19 |
| Project Completion Date | 2011-03-31 |
| Project Status | Under Implementation |
| Executing Agency | Ministry of Economy |
| Description | The objectives of the project are to: ·Change the current unfavorable investment and incentive conditions and create an enabling environment in Macedonia that fosters the development of sustainable energy utilization (in this context defined as efficient use of energy and use of renewable energy sources) through providing financial, methodological, informational, and institutional support; ·Support a large increase in energy efficiency (EE) investment in Macedonia through development of a self-sustaining, market-based financing mechanism based on a principle of commercial co-financing. The project’s goal is focused on the development and implementation of financially profitable EE projects, which can provide sustainable and increasing reductions in GHG emissions without relying on public subsidy; and ·Increase the availability of financing for renewable energy (RE) investments, enterprises and intermediaries through the establishment of a financial facility with a long-term time horizon, which will provide seed capital for equity or debt co-financing of RE development projects. |
| PDF B Amount | 350,000 USD |
| GEF Project Grant | 5,500,000 USD |
| GEF Grant | 5,850,000 USD |
| Cofinancing Total | 28,800,000 USD |
| Project Cost | 34,650,000 USD |
| GEF Agency Fees | 526,500 USD |
| GEF Project (CEO Endo.) | 5,500,000 USD |
| Cofinancing Total (CEO Endo.) | 26,700,000 USD |
| Project Cost (CEO Endo.) | 32,550,000 USD |
| Project Documents |
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