EU and International Finance Institutions step up cooperation for  large-scale energy efficiency measures in buildings in Armenia 

ArmInfo. On 18 March 2019  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.

As the official website of EU delegation to Armenia informs, 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 Francaise de Developpement (AFD), and Asian  Development Bank (ADB).  To recall, the European Bank for  Reconstruction and Development (EBRD) held on February 19 in Yerevan  the award ceremony for financial organizations that successfully  invested in energy efficiency and renewable energy projects in the  framework of energy credit programs. Within the framework of the  program, Armenian enterprises have already received about EUR 27  million.