Europe


Country Initiatives

Countries Description Year Contribution
Albania
The IFC-Canada Climate Change Program provided a credit line to a local financial intermediary to develop a new product line dedicated to energy efficiency and renewable energy financing in Albania. This is the first local bank in Albania to offer sustainable energy financing to corporate/small and medium-sized enterprise (SME) clients. In parallel, IFC Advisory Services are provided to the bank to build pipeline and capacity to execute energy efficiency and renewable energy loans. 2010/2011 $1,300,000
Albania
The IFC-Canada Climate Change Program financed advisory services to the Municipality of Tirana for the structuring and implementation of a public-private partnership (PPP) transaction for the purpose of managing municipal solid waste. The Municipality of Tirana, with more than 700,000 people, has a pressing need to introduce space-efficient waste disposal and possibly expand landfill capacity, which may be exhausted within a few short years. Advisory services to the municipality will consist of due diligence analysis of the project, assessment of investors’ interest, and structuring of the transaction. It will also include drafting, implementation and conclusion of the tender process. 2010/2011 $125,000
Armenia
The IFC-Canada Climate Change Program provided support for investment in renewable energy (RE) and energy efficiency (EE) technologies in Armenia. Through the provision of financing to a local bank, this project is expected to reduce initial entrant market barriers and promote the uptake of similar investments by other financial institutions. It is complemented with IFC Advisory Services to help the bank build the internal capacity to screen, appraise, and monitor sustainable energy projects. 2010/2011 $8,000,000
Bosnia and Herzegovina
The IFC-Canada Climate Change Program provided support to a soda ash producer in Bosnia and Herzegovina, to improve resource and energy efficiency practices as part of the facility expansion plan. In particular, program funds will finance an energy efficient fluidized bed boiler. 2010/2011 $10,000,000
Georgia
The Canadian Climate Fund for the Private Sector in Asia (CFPS) at the Asian Development Bank (ADB) provided support to a run-of-the river hydro independent power producer in Georgia. The project has the potential to use its unique geography of an abundance of rivers to transform Georgia into a regional powerhouse of sustainable energy. The electricity produced from this source will be sold to Turkey for nine months of the year and the local market for the remaining three months. The project consists of two separate hydropower plants with a total capacity of 185 megawatts. Power will be exported both into the domestic and regional markets. 2012/2013 $15,000,000
Serbia
The IFC-Canada Climate Change Program financed advisory services to assist the authorities of the City of Belgrade, Serbia in structuring a sustainable and bankable public-private partnership (PPP) project to create municipal waste treatment facilities. The city, with a population of 1.7 million people that generates about 600,000 tons of municipal waste per year, is seeking to improve its waste treatment and disposal practices to be compliant with national and European Union legislation. 2010/2011 $250,000
Bosnia and Herzegovina
The IFC-Canada Climate Change Program contributed much-needed long-term funding for the underserved renewable energy segment of the economy in Bosnia and Herzegovina. This financing will help a private sector bank introduce a new lending product and create a pipeline for renewable energy and energy efficiency investments. 2010/2011 $2,730,000
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