Identification and Promotion of Energy Efficiency (EE) Investments
The objective of this project was to provide a financial contribution to the EBRD's grant facility to help support sustainable energy investments in Ukraine and Moldova. The projects funded under this facility aimed at reducing energy dependency and improving security of energy supply in the countries concerned by promoting energy efficiency particularly amongst small and medium-sized enterprises. INOGATE funds were used as grants to support the EBRD's Moldova Energy Efficiency Fund (MoSEFF) in the amount of €6.06 million and the Ukraine Energy Efficiency Programme(UKEEP) in the amount of €3.25 million.
The project opened the way to sound Energy Efficiency investment projects through the establishment of credit lines within appropriate local banks and the provision of technical, financial, legal and environmental expertise to potential beneficiaries (SMEs in Moldova and Ukraine, and industries and agribusiness in Moldova where appropriate). Finally, it encouraged spill over effects in the banking, industry and household sectors.