The European Bank for Reconstruction and Development (EBRD) has received new donor contributions amounting to €41.1 million on behalf of the Eastern Europe Energy Efficiency and Environment Partnership (E5P). The funding will accelerate environmental and climate impact in the Eastern Partnership countries of Armenia, Azerbaijan, Georgia, Moldova and Ukraine.
The latest contributions were announced at the E5P Assembly in London today. Germany and Sweden are providing €20 million and €10 million, respectively, for Ukraine. Finland is contributing €6.1 million to the region (€4.5 of which is for Ukraine) and Norway is providing €5 million (€1.9 of which is for Ukraine).
War-torn Ukraine is the main beneficiary of the new E5P grants, with a total of €36.4 million dedicated to supporting immediate resilience measures and future green reconstruction.
To date, the E5P has supported 43 projects, ranging from district heating to green buses and from sustainable waste management to energy efficiency in public buildings across the region. These are being implemented by the EBRD, the Council of Europe Development Bank, the European Investment Bank and the Nordic Green Bank (Nefco).
Cumulatively, these projects have an investment value of €1.3 billion and are expected to benefit more than 12 million people, abate 1 million tonnes of CO2 emissions per year (equivalent to the annual emissions of 500,000 cars) and safely dispose of more than 270,000 cubic metres of waste per year.
The E5P is a multi-donor fund initiated by Sweden, operating across the Eastern Partnership region. To date, a total of €311 million has been provided by the European Union, the largest overall contributor, and 24 donor countries, including Sweden, Germany, Norway, Denmark, Switzerland and the United States of America, as well as the beneficiary countries.
