New carbon fund targets eastern Europe

EBRD and EIB launch €165m financing mechanism to improve energy efficiency in eastern Europe

Energy efficiency, renewable energy and landfill gas recovery projects across Eastern Europe are set to receive a fresh influx of cash with the launch of a carbon fund dedicated to the region. The European bank of reconstruction and development (EBRD) and European investment bank (EIB) announced a €165m fund on Wednesday based on contributions from six countries and six companies. Eastern Europe’s recent history of command economies has created huge potential for energy efficiency improvements (EED 01/10/04). Earlier this year the EBRD announced a separate sustainable energy initiative for the region (EED 24/05/06). See press release.

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