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New instruments

Climate Investment Funds

Climate Investment Funds (CIFs) are new global financing instruments designed to promote and sustain the transition towards low- carbon and climate resilient development with investments channelled through multilateral development banks (MDBs).

Increased cooperation and involvement of MDBs is seen as a key element of the post-Kyoto Protocol financial architecture. Within the scope of SEI, we actively and fully engaged with donors, the World Bank Group and other MDBs in the design and implementation of the CIFs, and are preparing substantial investment projects for implementation with CIF concessional funding. 

The first EBRD project benefiting from CIF will be implemented in Turkey during 2010.

Energy Efficiency Management Systems

The EBRD initiated a new programme in 2009 to support companies to implementing integrated Energy Efficiency Management Systems (EEMS).

The programme will co-finance up to 50 per cent of the purchase of equipment/instrumentation and the cost of installation related to EEMS in selected sectors.

The beneficiaries of the programme will be some 10-15 companies in selected countries of operations in sectors such as food processing, commercial building and heat supply systems, where the introduction of EEMS can maximise the demonstration effect and catalyse the development of new markets for providers of energy efficient technologies.

Various studies suggest that the economic market potential for energy efficiency in the EBRD region ranges between 20-40 per cent (at current energy prices). Despite this economic potential, a wide range of information gaps, market failures, and policy imperfections still hold back investments.

This provides the grounds for the EBRD to become involved by blending its financing with technical assistance for demonstration and pilot projects.

The introduction of EEMS as part of a comprehensive energy efficiency strategy will help address these issues. To date six subprojects have qualified under the programme which is expected to be fully committed by the end of 2010.

Regional Energy Efficiency Programme for the Corporate Sector

We launched a new €3.5 million technical cooperation facility in 2009 – the Regional Energy Efficiency Programme for the Corporate Sector – to provide energy audit support for the manufacturing, agribusiness and natural resource sectors.This programme is funded by the EU Neighbourhood Investment Facility, the Western Balkans Fund, the ETC Fund, EBRD Shareholder Special Fund, the Netherlands, Greece, Germany and Italy.

Public Sector Energy Efficiency Programme

Buildings account for up to 40% of energy consumption in many EBRD countries and have great potential for energy saving, yet relatively little investment has been made in this sector.  Some of the highest energy savings are in public buildings such as schools and hospitals where rising energy costs place an increasing burden on public resources  but capital is too scarce to enable the needed investments to be made.

The Bank has launched a programme to enable private sector companies to implement and finance energy saving measures in public buildings through energy performance contracting.  The programme was launched in 2009 an aims to develop the contract structure and tender procedures for towns and cities to contract private sector companies to finance and implement energy saving projects.  Initially  this is focused on Russia, Ukraine, Bulgaria and Romania.

Ukraine Renewable Energy Direct Lending Facility

In 2010 the Bank launched the €50 million Ukraine Renewable Energy Direct Lending Facility.  This facility aims to provide loan financing for smaller renewable energy project in Ukraine (from €1 million upwards) combined with a comprehensive technical assistance programme to assist developers in preparing projects, support the government of Ukraine on further development of the regulatory framework and to review strategic environmental issues that need to be addressed.  This technical assistance programme is funded from a grant of $8.45 million from the Global Environment Facility.

The Ukraine Renewable Energy Direct Lending Facility will provide a valuable instrument to support and finance the emerging renewable energy market in Ukraine.

Last updated 7 May 2014