EU4Energy: Eastern Europe Energy Efficiency and Environment Partnership (E5P)
The E5P merges financial contributions from the European Union and a group of 24 nations, including countries which are benefiting from the fund. The EU is the largest contributor to the fund and the Chair of the Assembly of Contributors, the main governing body for E5P. The EBRD acts as the fund manager of E5P providing administrative support to manage the fund on behalf of all the stakeholders.
How the Fund works:
The E5P investment grants are blended with loans from the participating Implementing Agencies to address market barriers and support environmental projects with high developmental impact, traditionally in the municipal sector. The Implementing Agencies are: the Council of Europe Development Bank (CEB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW), Nordic Environment Finance Corporation (NEFCO), Nordic Investment Bank (NIB) and World Bank Group (WBG).
Hitherto, the Fund has focused on the municipal sector, supporting projects in district heating, solid waste management, water and wastewater treatment, energy efficiency in buildings (schools, kindergartens, hospitals as well as residential buildings), street lighting and urban transport. Additionally, projects in the infrastructure and energy sectors such as renewable energy generation (including biomass), interconnection and resource efficiency with public and private sector clients are potentially eligible.
The Fund focuses on improving lives and systemic changes, thus prioritises projects with a strong policy engagement component. Proposals are jointly developed by the recipient country and Implementing Agencies, in line with the country-specific priorities.
- Reduce CO2 emissions and other harmful greenhouse gases.
- Improve energy efficiency.
- Provide support to policy dialogue and regulatory reform.