Armenia, Georgia and Moldova join Eastern Europe Energy Efficiency and Environment Partnership

Armenia, Georgia and Moldova have joined the Eastern Europe Energy Efficiency and Environment Partnership (E5P), which merges contributions from the EU and donor countries including Ukraine, as well as Denmark, Estonia, Finland, Latvia, Lithuania, Poland and the USA. During yesterday’s pledging conference at the European Investment Bank (EIB) in Luxembourg, the international donor community raised an additional €60 million to broaden the activities of the E5P Fund, a press release said, adding that Armenia, Georgia and Moldova will now benefit from support for energy efficiency and the reduction of harmful emissions due to the E5P Fund.
I am delighted that Armenia, Georgia and Moldova have decided to join the Partnership. The European Commission, as the main donor of the Fund, is ready to provide up to €30 million for the three countries that are joining the facility, in order to co-finance energy efficiency and environmental projects in municipalities,” said EU Commissioner for Enlargement and European Neighbourhood Policy Štefan Füle.
The E5P Fund contributions are used to leverage national funds and loans from international financial institutions (IFIs), including the EBRD, the EIB, the World Bank Group, the Nordic Environment Finance Corporation and the Nordic Investment Bank.
The initial focus of E5P was Ukraine, where, to date, one-third of the available E5P funds have been committed to projects in the municipal sector to modernise district heating systems, upgrade water and wastewater systems and save energy in public buildings.
Most of the Eastern Partnership countries are highly dependent on expensive imported gas, which places a heavy burden on their economies. On average, they are also three times more energy-intensive than the average EU country. The E5P is part of the strategic response to energy issues, allowing municipal authorities to invest in concrete projects that make the most of opportunities for energy savings.
Most of the cities that have benefited from the E5P Fund in Ukraine are also signatories to the Covenant of Mayors, a European Union initiative involving voluntarily commitments by municipalities to reductions in CO2 emissions and energy use.  (EU Neighbourhood Info
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