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Detail of GEF Project #2531

GEF Project ID2531
Funding SourceGEF Trust Fund
Project NameSustainable Energy Program
RegionEurope and Central Asia
Focal AreaClimate Change
Operational Program5; 6
Pipeline Entry Date2004-05-24
PDF-B Approval Date2004-05-24
Approval Date2005-09-13
CEO Endorsement Date2006-11-27
GEF Agency Approval Date2006-12-19
Project Completion Date2011-03-31
Project StatusProject Completion
GEF AgencyWorld Bank
Executing AgencyMinistry of Economy
DescriptionThe 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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