ArmInfo. The Eurasian Development Bank will provide the Government of Armenia with a $1,719,200 grant for the implementation of the "Energy-efficient regions. Employing energy-efficiency enhancement mechanisms in public buildings and facilitating green energy development" programme. The corresponding decision was made on July 7 at a meeting of the Armenian government.
According to the source, the decision was made in order to implement the agreement signed between the Eurasian Development Bank and the Government of the Republic of Armenia on March 7, 2022.
It is noted that as a result of the energy saving program implemented by the Armenia Renewable Resources and Energy Efficiency Fund with the financial support of the World Bank, the energy saving of 64 public facilities of the republic increased by an average of about 50%. <The results of the project have led to a large demand for this product, and after the end of the project, the Armenia Renewable Resources and Energy Efficiency Fund receives many applications for the implementation of measures to improve the energy efficiency of buildings. For inclusion in the program, the Fund received applications from about 20 educational and medical institutions in the regions of the republic>, the document says.
Earlier, ArmInfo reported, that the Eurasian Fund for Stabilization and Development (EFSD) will provide a $1.719mln grant to Armenia for enhancing energy efficiency in public buildings. On January 27, Armenia's Cabinet approved the proposal to sign an agreement on the grant for funding the "Energy-efficient regions. Employing energy-efficiency enhancement mechanisms in public buildings and facilitating green energy development" programme. RA Minister of Territorial Administration and Infrastructures Gnel Sanosyan said that energy-efficiency mechanisms will be employed in 20 buildings of the public housing stock, with at least 3,000 MWh expected to be saved annually and CO2 discharges into the air to reduce by 700 tons. An important component of the project is that the participants will operate a revolving fund, which will enable them to repay the funds within 7 or 8 years. In turn, it will enable the Armenia Renewable Resources and Energy Efficiency Fund, which is implementing the programme, to apply this experience in other buildings. The Eurasian Fund for Stabilization and Development (the former EURASEC Anti-Crisis Fund) is a regional financial arrangement in the amount of US$ 8.513 billion established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia, and Tajikistan to overcome negative crisis consequences, to provide long-run sustainability and to foster economic integration of EFSD member countries. The Fund provides the following assistance to the member states: financial credits for budget support and (or) balance-of-payments support, available to governments only; investment loans, provided either to EFSD member states or to companies; grants to finance government programmes in the social sector. The Eurasian Development Bank acting in its capacity of the EFSD Resources Manager coordinates its activities with other international financial institutions and donor clubs.
