EBRD launches EUR 90m energy efficiency fund in Eastern Europe

(ADPnews) - Feb 25, 2011 - The European Bank for Reconstruction and Development (EBRD) said yesterday a EUR 90 million (USD 124m) multi-donor energy efficiency and environment partnership fund will provide grant funding to Ukraine, Armenia, Azerbaijan, Belarus, Georgia and Moldova.

The Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund, managed by the EBRD, is designed to promote energy efficiency investments and environmental projects, such as waste water or renewable energy.

The EBRD also said it had signed an agreement on a EUR 10 million contribution by Ukraine to the E5P Fund.

The fund will complement energy efficiency loans provided by financial institutions including the EBRD, the European Investment Bank, the Nordic Investment Bank, the Nordic Environment Finance Corporation and the World Bank Group.

(EUR 1.0= USD 1.38)

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