EBRD and Green Climate Fund are co-financing new GEFF programme in Armenia


The EBRD is intensifying efforts to strengthen energy efficiency in Armenia with the launch of a new Green Economy Financing Facility for the country, co-financed by the Green Climate Fund (GCF).

The new GEFF programme in Armenia was launched in Yerevan at an event which brought together GEFF stakeholders, including donors, local state officials, local partner financial institutions, suppliers and producers of green technologies for the residential sector.

Funding will be available for investments in green technology, especially in climate adaptation and mitigation technologies. Possible investments include technologies such as thermal insulation, photovoltaic solar panels, geothermal heat pumps and water efficient irrigation systems.

The EBRD was represented by its Head of Armenia, Dmitri Gvindadze, who commented: “Developing the financial sector and improving access to green finance is one of our key priorities in Armenia. We are pleased to work with Ameriabank and ArmSwissBank to support both energy efficiency and water resource efficiency investments. Today, we have partnered with the ArmSwissBank which has a strong client base, and so we can better reach out to private sector players both in Yerevan and the regions.”

The GEFF programme will contribute towards building a green economy in Armenia by supporting the expansion of green finance in accordance with the EBRD Green Economy Transition (GET) approach.

source EBRD

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