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RUS Market Transformation Programme on Energy Efficiency in GHG-Intensive Industries in Russia

Project Summary

The proposed project will reduce greenhouse gas emissions in the Russian Federation by transforming the market for Industrial Energy Efficiency in GHG-intensive industries. The project will lead to a transformation of the market for industrial energy efficiency through activities that will i) improve industrial energy efficiency in heavy industries, ii) have a direct positive effect on rational energy use with related environmental benefits, and iii) improve the commercial prospects of industrial borrowers. Financing of over 350 million USD will be facilitated through this project resulting in potential direct emission reductions of up to 3.8 million tonnes CO2eq over 10-year equipment lifetimes

Project Details

GEF Project ID
Project Type
Full-size Project
Project Approved
Russian Federation
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
European Bank for Reconstruction and Development
Executing Agencies
Russian Energy Agency
GEF Period:
GEF - 4
Approval Fiscal Year:


Project Preparation Grant Amount
225,000 USD
GEF Project Grant
15,385,000 USD
Co-financing Total
307,595,631 USD
GEF Agency Fees
1,538,500 USD
Total Cost 323,205,631.00 USD

Project Timeline

Received by GEF
22 Jan 2008
Preparation Grant Approved
23 Jun 2008
Concept Approved
01 Jun 2008
Project Approved for Implementation
21 Jul 2010
Project closed