Energy Efficiency Co-Financing Program

Project Summary

To overcome critical financing barriers to investments in energy efficiency (EE) in Hungary and to promote local EE markets and capacity, the project will create an EE co-financing program to facilitate and leverage private sector capital (including domestic bank capital and credit lines with international financial institutions) for EE investments. In addition to technical assistance, it will provide partial credit guarantees, whereby funds would be reserved to cover the guarantee liability, and medium- to long-term co-financing loans, targeting three subsectors: lighting, district heating and industrial motors and processes. The project will reduce credit risk on EE financing for eligible local financial intermediaries, facilitate longer term financing terms, provide targeted technical assistance, and reduce transaction costs borne by project participants.

Project Details

GEF Project ID
111
Project Type
Full-size Project
Status
Completed
Country
Hungary
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
International Finance Corporation
GEF Project Manager

Financials

Project Preparation Grant Amount
0 USD
GEF Project Grant
5,000,000 USD
Co-financing Total
20,000,000 USD
GEF Agency Fees
0 USD
Total Cost 25,000,000.00 USD

Project Timeline

Received by GEF
Concept Approved
01 Apr 1996
Project Approved for Implementation
11 May 1997
Project closed
01 Jun 2002