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Detail of GEF Project #1316

GEF Project ID1316
IBRD PO ID505970
Funding SourceGEF Trust Fund
Project NameEnergy Efficiency Co-Financing Program 2 (HEECP2)
RegionEurope and Central Asia
Focal AreaClimate Change
Operational Program5
Approval Date2001-10-03
GEF Agency Approval Date2001-10-22
Project StatusIA Approved
Executing AgencyInternational Finance Corporation
DescriptionProject 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 StatusExtension 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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