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Eastern Europe Energy Efficiency and Environment Partnership (E5P)

The Eastern Europe Energy Efficiency and Environment Partnership (E5P) is a EUR 200 million multi-donor fund that encourages municipal investments in energy efficiency and environmental projects in the Eastern partnership region. The fund also supports policy dialogue and regulatory reform. E5P participates in projects as a co-financier. Grants are used as an incentive for municipal clients to take loans provided by participating Implementing Agencies:

Council of Europe Development Bank (CEB)
European Bank for Reconstruction and Development (EBRD)
European Investment Bank (EIB)
International Finance Corporation (IFC)
KfW
Nordic Environment Finance Corporation (NEFCO)
Nordic Investment Bank (NIB)
World Bank (WB)

Support provider

European Union and a group of 21 nations, including countries that benefit from the fund

Purpose of support

Project and program implementation

Eligibility criteria

Municipal clients are eligible for the fund. Size of CO2 emission reductions and other environmental benefits. The sectors most likely to benefit from the E5P fund are:

energy efficiency in public buildings (schools, kindergartens, hospitals)
energy saving measures in residential housing
renewable energy (including biomass)
district heating modernisation
street lighting
solid waste management
urban transport
water and wastewater treatment

Financial instruments

Grants

Co-financing requirements (if applicable)

The grants from E5P are used as an incentive for municipal clients to take loans provided by participating Implementing Agencies.

Decision-making information

The Assembly of Contributors, which incorporates all the contributors to the E5P, is the main governing body for E5P. They approve grant allocations and decide on the fund's overall strategy and guidelines.

The Steering Group, consisting of the recipient countries and the Implementing Agencies, has the taswk to develop and make project proposals for approval by the Assembly.

The EBRD acts as the fund manager, providing administrative support to manage the fund.

Monitoring and reporting procedures

The financial statements of the Fund shall be audited on an annual basis before the end of June of the following year by the external auditors of the Fund Manager in a manner consistent with that applied to the other cooperation funds administrated and managed by the Fund Manager. The costs of the audit shall be paid from the management fee referred to in Section 3.04(a).

In case contributors are subject to specific auditing requirements under their respective statutes, their Contributions may be subject to auditing requirements that, together with the manner in which such auditing requirements will be met, shall be agreed between the EBRD and the respective Contributors and set out in the respective Contribution Agreement. All costs for the fulfilment of such requirement shall be covered by the respective Contributor, in addition to the amount of the Contribution made.

Information on how to...

Submit a project, by gaining the approval of the Steering Group and then the Assembly of Contributors. Reference approved countries here.

Climate objective

Adaptation, Mitigation, Cross-cutting

Sectors and themes

Cities, Energy efficiency, Renewable Energy, Waste Management

Type of support provider

Multilateral

Type of recipient

Public entity at the sub-national level

Fund size

EUR 1.3 billion investments

Co-financing required

Yes

Application timeframe

The Steering Group addresses the preparation of projects as many times as necessary, once or twice a year, in preparation of the Assembly of Contributors.

Trustee or administrator

European Bank for Reconstruction and Development (EBRD)

Contact information

http://e5p.eu/

ManikE@ebrd.com

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Eastern Europe Energy Efficiency and Environment Partnership (E5P)

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