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EU and International Finance Institutions step up cooperation for energy efficiency measures in Armenia
2019-03-19 10:41:40

Lawrence Meredith, Director for Neighbourhood East at the European Commission and leading International Financing Institutions (IFIs) are on a joint mission in Yerevan to discuss policy priorities and sustainable investment solutions for energy efficiency in buildings, both public and private.

Senior EU and IFI representatives met with key government Ministers and sector experts to discuss the potential to scale up investments in energy efficiency in buildings, as well as the necessary reforms.

Speaking on behalf of the EU, European Commission Director responsible for relations with Armenia, Lawrence Meredith said: “In Armenia, buildings consume up to 40% of total energy, which has a significant impact on Armenian families’ budgets and the environment. Together with the main financing institutions, we are here to discuss with the new Armenian government where mobilizing our support would significantly improve energy efficiency in buildings and, ultimately, the living standards of people."

Lionel Rapaille, EIB, Head of Division, Eastern Neighborhood, commented: “The EU bank, in cooperation with the European Commission and partner financing institutions, supports projects in Armenia contributing to the improvement of everyday life of citizens. Increase of energy efficiency of buildings is important for the wellbeing of people, energy and cost savings, as well as combatting climate change. There is a significant potential for energy performance improvements in Armenia.”

 

The joint mission is part of wider EU and partner IFI efforts to increase support for energy efficiency policies and investments in buildings in the EU's enlargement and neighbourhood regions. The initiative aims to move away from individual energy efficiency projects to a comprehensive approach that supports concrete policy actions and scales up sustainable investments. After concluding the mission and dialogue with the Armenian government, the European Commission together IFIs will identify priority areas for support of energy efficiency measures in public and private buildings.

The participating institutions are the European Commission, the European Investment Bank (EIB), The European Bank for Reconstruction and Development (EBRD), the International Monetary Fund (IMF), the World Bank (WB), International Finance Corporation (IFC), KfW Development Bank (KfW), Agence Française de Développement (AFD), and Asian Development Bank (ADB).