The primary goal of this project is to build capacity in Russian financial institutions through the process of developing and marketing specialized EE finance products targeting appropriate market niches and financing EE projects as a direct result. The Program aims to establish sustainable lending practices in the Russian financial sector which support EE investment. The Program’s focus on transactions is intended to support FIs such that they: a) understand that energy efficiency projects are viable investments that improve the financial stability of their clients and reduce the banks’ overall risk exposure; b) examine industry related loans and leases from an energy efficiency perspective; c) actively build a portfolio of energy efficiency projects; and (d) develop specialized financial products which target niche markets for EE finance.

Project Details

GEF Project ID
2111
Country
Russian Federation
Implementing Agencies
The World Bank
International Finance Corporation
Approval FY
2005
Status
Completed
Region
Europe and Central Asia
Executing Agencies
IFC
GEF Period
GEF - 3
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund

Financials

USD
Co-financing Total
23,250,000
GEF Project Grant
7,000,000
GEF Agency Fees
630,000

Timeline

Received by GEF
19 Jun 2003
Concept Approved
01 Jul 2004
Project Approved for Implementation
16 Mar 2005
Project Closed
31 Jul 2012