Energy Efficiency Project

Project Summary

The proposed project will make Croatia’s economy less energy intensive by establishing an economically and environmentally sustainable market for energy efficiency projects and services. It will do so by creating a core developer of energy efficiency projects within HEP, the national power utility. The new energy service company, ESCO, will promote, develop and finance energy efficiency projects.

Project Details

GEF Project ID
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
The World Bank
Executing Agencies
Hrvatska Elektroprivreda (HEP, the Croatian electricity utility) for the IBRD loan, GEF contingent grant, and GEF technical assistance; an independent financial intermediary for the GEF guarantee
GEF Period:
GEF - 2
Approval Fiscal Year:


Project Preparation Grant Amount
84,410 USD
GEF Project Grant
7,000,000 USD
Co-financing Total
32,800,000 USD
GEF Agency Fees
701,000 USD
Total Cost 39,884,410.00 USD

Project Timeline

Received by GEF
22 Aug 2003
Preparation Grant Approved
11 Apr 2001
Concept Approved
01 May 2001
Project Approved for Implementation
25 Aug 2003
Project closed
30 Jun 2010