Financing Public Building Efficiency

Project Summary

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
Project Type
Full-size Project
Status
Completed
Country
Romania
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
European Bank for Reconstruction and Development
Executing Agencies
EBRD
GEF Period:
GEF - 4
Approval Fiscal Year:
2010

Financials

Project Preparation Grant Amount
200,000 USD
GEF Project Grant
4,350,000 USD
Co-financing Total
95,600,128 USD
GEF Agency Fees
435,000 USD
Total Cost 100,150,128.00 USD

Project Timeline

Received by GEF
15 May 2009
Preparation Grant Approved
04 Sep 2009
Concept Approved
31 Mar 2010
Project Approved for Implementation
12 Sep 2011
Project closed
31 Aug 2018