Eastern Europe Energy Efficiency and Environment Partnership Fund (E5P)
Description
The Fund coordinates and accelerates the implementation of important energy efficiency and environmental protection projects in the areas of municipal infrastructure. These include, for example, district heating projects, public transport and lighting projects. It is designed to provide effective financial support over a number of years by pooling non-repayable deposits that are primarily used to support energy efficiency and environmental projects, leading to significant energy savings and reductions in CO2 and other greenhouse gas emissions. These enable loan financing through development banks and help to raise projects above the economic viability threshold. Several payments were made into the fund from funds of the International Climate Initiative (IKI) as untied and voluntary contributions.
The E5P participates in projects as a co-financier. The grants from E5P are used as an incentive for municipal clients to take loans provided by participating Implementing Agencies:
- Council of Europe Development Bank (CEB)
- European Bank for Reconstruction and Development (EBRD)
- European Investment Bank (EIB)
- International Finance Corporation (IFC)
- KfW
- Nordic Environment Finance Corporation (NEFCO)
- Nordic Investment Bank (NIB)
- World Bank (WB).
The following sectors are eligible for E5P support:
- District heating
- Energy efficiency in public buildings (schools, kindergartens, hospitals)
- Energy saving measures in residential housing
- Renewable energy (including biomass)
- Street lighting
- Water and wastewater treatment
- Solid waste management
- Urban transport”