The Facility

In Armenia, Green Economy Financing Facility (GEFF) provides finance, advice and incentives to help businesses become more competitive by investing in high-performance technologies and adopting energy efficiency practices. The Facility in Armenia is a product of the European Bank for Reconstruction and Development (EBRD), supported by the Green Climate Fund (GCF) and the Scaling-up Renewable Energy Program (SREP) of the Climate Investment Funds (CIF). Currently, the Facility supports Armenia’s green economy transition with US$ 41 million through participating local financial institutions. Here is how GEFF works, there are two basic approaches:

• Pre-approved investments available on the EBRD GEFF Green Technology Selector. Items on the Green Technology Selector are eligible to be financed using GEFF without any further technical approval. All such measures save energy or water or use renewable energy. To appear on the Green Technology Selector, items must meet or exceed high technical performance standards defined by GEFF engineers and set by the EBRD as technical eligibility criteria for GEFF. Eligible technologies include refrigerators and freezers; air conditioners; LED lighting; gas boilers; biomass boilers; hot water cylinders; thermopane windows and doors; building insulation materials; heat pumps; solar collectors; solar PV; energy metering and control systems; and water-saving systems and technologies.
• Assessed investments with free technical consultancy. Some green investments can benefit from specific solutions that are not obvious or available under the simple “pre-approved” approach described above. In these cases, the GEFF local team provides expert advice at various stages of project implementation to ensure that the investment proposal is technically eligible and the most appropriate green technologies and services are financed using GEFF. The technical support services provided by the local GEFF team, particularly by the local experts of the IPC – Internationale Projekt Consult GmbH (Frankfurt am Main, Germany), are carried out under contract with the EBRD.

To use GEFF, you may either

• use the Green Technology Selector on this website to select eligible technologies before addressing the Participating Financial Institution, or
• contact the Participating Financial Institution with your green investment project proposal.

If you have any questions, please do not hesitate to contact the GEFF Help Desk.