Project Objective: The EBRD-GEF project will reduce greenhouse gas emissions in Romania by improving energy efficiency in public buildings. The project will capitalize on the existing positive policy environment by addressing barriers to municipal project financing through a targeted technical assistance program. The project will help local authorities overcome common obstacles to financing energy efficiency improvements such as allocation of resources for energy audits and project preparation, tendering procedures, and management of larger-scale programs that may need additional dedicated resources. Investment barriers will be addressed through the use of Energy Performance Contracts (EPC) and the introduction of forfeiting as a financing mechanism, which together will enable private contractors to finance and implement the necessary energy saving measures.

Project Details

GEF Project ID
4009
Country
Romania
Implementing Agencies
European Bank for Reconstruction and Development
Approval FY
2011
Status
Project Approved
Region
Europe and Central Asia
Executing Agencies
EBRD
GEF Period
GEF - 4
Project Type
Full-size Project
Focal Areas
Funding Source
GEF Trust Fund

Financials

USD
Co-financing Total
95,600,128
GEF Project Grant
4,350,000
GEF Agency Fees
435,000

Timeline

Received by GEF
15 May 2009
Concept Approved
31 Mar 2010
Project Approved for Implementation
11 Sep 2011