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Energy Efficiency Investment Project Development for Climate Change Mitigation

Countries: Belarus, Bulgaria, Kazakstan, Russian Federation and Ukraine

Duration: 36 Months

National Implementing Agencies: Municipal authorities, Ministries of Energy, Ministries of Environment, Energy Conservation Agencies

Executing Agency: Economic Commission for Europe UN ECE

UN Associated Agencies: UN ESCAP, UN FCCC

Starting Date: January 2000

Government Inputs: (in kind) Us$ 1 million

UNFIP Co-financing Inputs: Us$ 750,000 on 1:1 matching fund basis

Co-financing Partner Inputs: Us$ 750,000

UNFIP Inputs: Up to Us$ 2 million: Us$ 500,000; Us$ 750,000 as 1:1 matching funds

Support Costs: Us$ 100,000

Brief Description: The project is to accelerate energy efficiency market formation activities for the greater participation of private sector investments, products and services in three key areas: municipal lighting, hospitals and district heating. It will establish а new network of selected municipalities linked by advanced Internet communications with international partners for value added information transfers on policy reforms, financing and energy management. The project will (a) develop the skills of the private and public sectors at the local level to identify, develop and implement energy efficiency investment projects; (b) provide assistance to municipal authorities and national administrations to introduce economic, institutional and regulatory reforms needed to support investment projects; and (c) provide opportunities for the commercial banks and companies to invest in these projects through existing investment funds, or if warranted, through а new fund managed by an international financial services company, assisted by commercial banks in the region. The project is to promote а self-sustaining investment environment for cost-effective energy efficiency projects advancing local city-scale participation in the objectives of UN FCCC and UN ECE environmental accords.