EBRD, EU to expand green investments support in Eastern Partnership countries

EBRD, EU to expand green investments support in Eastern Partnership countries

BAKU, Azerbaijan, Jun. 30

Trend:

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their support for green investments and climate resilience in Egypt, Morocco and the countries of the Eastern Partnership, Trend reports with reference to the EBRD.

The EU is providing a total of 61.3 million euros in grants to support three EBRD programs helping businesses invest in energy efficiency, cut their carbon footprint, introduce innovative green technologies, support the circular economy and improve legal frameworks for energy and resource efficiency investments.

"Climate finance is a crucial instrument for green investments, to increase the use of renewable energy and to build a low-carbon future, especially at a time when the coronavirus pandemic and the drop in fossil fuel prices threaten climate action progress. The EBRD and the EU via Team Europe are committed to accelerating a green recovery in the countries where they work together," the report said.

In the Eastern Partnership region, €15.4 million from the EU4Climate initiative will be channelled through the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) program to corporate sector clients via investment grants, technical assistance and the offer of climate innovation vouchers, which are expected to accelerate the adoption of innovative climate technologies and sustainable business practices.

“Our strong cooperation with the EU will bring concrete benefits for the environment in the countries where we jointly provide climate finance and support. On top of our investments, we will also focus on improving the regulatory framework for such green investments to develop a sustainable market for climate technology in the region,”Pierre Heilbronn, EBRD Vice President, Policy and Partnerships said.

In turn, Olivér Várhelyi, European Union Commissioner for Neighbourhood and Enlargement said that longstanding cooperation with the EBRD is extremely valuable, including in the domain of green finance where the bank has important experience.

"In Egypt and Morocco as well as in the Eastern Partnership countries, our joint support will help to step up energy-efficient and renewable-energy investments in the private sector, thus helping to build sustainable economies,” he said.

The EBRD is a pioneer in financing projects that promote renewable energy and combat climate change. To date, the EBRD has signed €34 billion in green investments, financed more than 1,900 green projects and reduced over 102 million tonnes of carbon dioxide emissions.

Turkmenistan to start second stage of cement plant construction in Lebap region
Turkmenistan to start second stage of cement plant construction in Lebap region
State Commodity Exchange of Turkmenistan reveals data for 1H2020
State Commodity Exchange of Turkmenistan reveals data for 1H2020
Turkmenistan to build new plants for mineral fertilizer production
Turkmenistan to build new plants for mineral fertilizer production
Loading Bars
Latest
Iran files lawsuit against U.S. over sanctions amid COVID-19 fight
Turkey's daily COVID-19 cases drop slightly for 5th day
WHO halts hydroxychloroquine, HIV drugs in COVID trials after failure to reduce death
WHO reports single-day increase in coronavirus cases by over 212,000
A patient with a coronavirus died in Bukhara region
Two new COVID-19 cases confirmed in Georgia
Azerbaijan to simplify its int'l road transport movement with new e-technology
Turkey's cement export to Iraq drops
Fire in power plant in SW Iran contained
TRACECA to implement pilot project on applying electronic permits
Azerbaijani university opens tender on repair work
Azerbaijan confirms 534 new COVID-19 cases
AZAL to perform another additional special flight to Istanbul
1 dead, 3 wounded in U.S. nightclub shooting
Brazil reports over 1.5 mln COVID-19 cases, with 63,174 deaths
Azerbaijan to increase share of renewables in electricity generation
Azerbaijan Investment Company purchasing shares
Foreign trade operations between Azerbaijan, Malaysia almost double
Volume of S.Korean goods import to Azerbaijan grows
Turkmenistan to start second stage of cement plant construction in Lebap region
New tourist zone to open in Baku (PHOTO)
BSTDB may release second tranche of manat bonds
Azerbaijani Kapital Bank expanding mortgage lending
State Commodity Exchange of Turkmenistan reveals data for 1H2020
Azerbaijan-Mexico five-month trade turnover increases
Turkey unveils volume of cargo transshipment from Ukraine via its ports
Activity of Iran's Aras Free Zone skyrockets, compared to last year
Talks over Energy Charter Treaty's modernization to start soon (PHOTO)
Turkmenistan to build new plants for mineral fertilizer production
Iran reveals its COVID-19 data for July 4
Georgia sees increase in prices of real estate for rent in suburbs
Suicide car bomber hits checkpoint at Somalia's Mogadishu port
Shell CEO does not rule out moving headquarters to Britain
Fitch Ratings: Growth in Azerbaijan's insurance sector depends on regulated tariffs
Weekly review of Azerbaijan's precious metals market (June 26-July 3)
Oil transportation via Ceyhan-Kirikkale pipeline through Turkey up
Lithuania considers transport co-op with Kazakhstan among top priorities
Samarkand Automobile Plant in Uzbekistan to produce ambulances
Uzbekistan increases number of refrigerated cargo wagons
Indonesia reports 1,447 new coronavirus infections
Overall production up in Turkmenistan with major part falling on private sector
China allocates humanitarian aid to Kazakhstan, backing anti-COVID battle
Turkmenistan reveals its oil production data for 1H2020
Iran's government stays committed to raising production
Uzbekistan receiving humanitarian aid from US charities
Weekly review of Azerbaijani currency market (June 26-July 3)
Azerbaijan's Bank BTB increases its total liabilities
Georgian municipality reveals volume of potato harvest
India coronavirus cases hit record high amid monsoon rains
Litzenberger: US, Azerbaijan share important partnership (VIDEO)
Russia's coronavirus cases near 675,000, death toll passes 10,000
Australia's Victoria reports 108 new coronavirus cases, biggest jump since March
UNEC brand was also known in Estonia
Uzbekistan to direct IDA's loan on urgent COVID-19-response measures
Least attractive Kazakh economy sectors for French companies revealed
Turkmenistan's cargo transportation for 1H2020 revealed
Turkmenistan's GDP increases in 1H2020
Tokyo new coronavirus infections over 100 for third day
Seven police hurt in violence at London music event
Europe to supply Asian countries with olive products through Georgia
Georgia reports new cases of coronavirus
Brazil health regulator Anvisa allows Chinese COVID-19 vaccine trial
Kazakhstan's import of Canada-made goods nearly twofold down
Armenia violates ceasefire with Azerbaijan 42 times
Azerbaijan's SOCAR Polymer planning to produce next polypropylene batch
Aeromexico shares rise for second day despite missed debt payment
Kazakhstan’s oil producing company to buy pipes via tender
Kyrgyzstan’s COVID-19 cases reach 7,094
Kazakhstan confirms 1,644 new coronavirus cases over past 24 hours
Israeli PM asks citizens to follow COVID-19 restrictions due to surge in morbidity
Air France set to cut more than 7,500 jobs
Turkey nearly halves leather export to Uzbekistan
Iran cuts import of electrical goods from Turkey
Iran among top three countries in world for caviar producing, sturgeon farming
Brazil reports over 1.5 mln COVID-19 cases, with 63,174 deaths
Geostat reveals producer price indices for services in Georgia
Chinese mainland reports 3 new confirmed COVID-19 cases
Japan's Cokey Systems talks its activities in Uzbekistan
4 dead in small plane crash in Utah mountains
Global coronavirus cases rise to more than 11 million
4 injured in shooting at shopping mall in U.S. Alabama
U.S. South Carolina reports 20.7 pct positivity rate from new coronavirus tests
Export of Turkish chemicals to Uzbekistan declines
Geostat: Georgia increases fruit exports
Mexican soldiers kill 12 in cartel clash near border
Iran says to announce cause of nuclear facility "incident" at "appropriate time"
4 killed, 108 wounded in fireworks factory blast in NW Turkey: ministers
Brazil set to pass 1.5 million coronavirus cases, cities reopen anyway
Zarif writes to Borrell on EU's noncompliance with JCPOA
WHO sees first results from COVID drug trials within two weeks
Number of job seekers from Turkey to Kazakhstan increasing
Spain registers rise in new COVID-19 cases in past week
Saudi-led coalition intercepts 4 bomb-laden drones
Switzerland to open borders for Georgian citizens from July 20
Over 400 beat COVID-19 in Kazakhstan
Turkey reports 1,172 new COVID-19 cases, 203,456 in total
Official talks use of RES by private companies in Kazakhstan's Karaganda
Pakistani foreign minister tests positive for COVID-19
Hungary's parliament adopts 2021 budget
Israel reports 1,008 new COVID-19 cases, 28,055 in total
All news