Financing Energy Efficiency and Renewable Energy Investments for Climate Change Mitigation

This project is designed to establish a dedicated financial facility for energy efficiency and renewable energy in Eastern Europe and CIS that can serve as a vehicle for the large-scale participation of private sector investors in partnership with public entities. The proposal is to support the development of a US$ 250 million public-private equity Fund that will be able to complement other funding schemes (including those implemented or contemplated by the GEF and/or other supporting institutions) and, as a result, leverage an investment volume of upt to US$ 2 billion for energy efficiency and renewable energy projects.