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Home > News > Romania GEF Energy Efficiency Financing Facility Project
Romania GEF Energy Efficiency Financing Facility Project
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Name |
Romania GEF Energy Efficiency Financing Facility Project |
Status |
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Active |
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Funding Mechanism |
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Duration |
Launched November 19, 2001- |
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Objectives |
To establish an Energy Efficiency Fund in order to improve energy efficiency, to reduce GHG emissions, to utilize self-sustaining market based mechanism, and to replicate model and capacity building |
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Sponsors |
World Bank and GEF |
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Eligible Sectors |
Clients with basic creditworthiness - Restructured/privatized industries – cement, pulp & paper, oil, chemicals, machine building, glass, wood processing, food |
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Eligible Projects/Technologies |
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Fund Endowment |
GEF contingent grant of US$ 9 million will supply seed capital, supplemented by commercial co-financing, GEF Technical Assistance of US$ 1 million and donor funds for capacity building. |
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Terms |
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-Funding Instruments |
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-Interest Rates |
The Fund would buy down current perceived risks and transaction costs to allow lending at regular commercial rates (over time, the need for this buy-down should be reduced). |
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-Payback |
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-Size |
US$ 450,000 |
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-Collateral |
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-Share of loan in project cost |
Up to 70-80% - the remainder to be covered by borrowers |
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-Loan criteria |
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Comments |
According to report: Advantages of the Fund: 1) flexible facility, able to respond quickly and to adapt to new needs, 2)no contributions from the State budget, 3) self-sustaining, open to commercial co-financing, 3) combination of financial services and expertise in EE, 4) potential catalytic role in the Romanian Energy Sector. |
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Sources |
FREE |
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Contact Information |
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