A financing facility to promote investment in energy efficiency technologies in Armenia, Azerbaijan and Georgia has helped small-scale energy efficiency projects to save money and reduce emissions. This has been achieved by establishing credit lines with local banks and providing technical, financial and legal expertise.
-Increasing financial intermediation, providing financing for rational energy utilisation, as well as assisting with mitigation of increasing energy prices and high energy intensity in the region;
-Enhancing energy sustainability by (i) further improving the capacity of financial intermediaries to appraise and finance energy efficiency projects and small scale renewable energy investment projects, as well as (ii) supporting local engineers in improving their technical expertise to identify and prepare technically feasible and bankable projects;
-Providing project preparation support and financing to industry, SMEs, agribusiness, residential and commercial services to facilitate their sustainable energy investment under difficult credit conditions in the region.
-Provision of credit lines;
-Incentive payments to sub-borrowers;
-Grant support: technical cooperation.