Energy Efficiency GEF Project

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The objective of the Poland GEF Energy Efficiency Proposed project is to increase public and private sector investments in energy efficiency in buildings. The project has the following three components: Component 1) A partial guarantee facility with US$5.7 million in reserves will be established with GEF funds as a risk-sharing mechanism that will provide commercial banks partial coverage of risk exposure against loans made for energy efficiency projects for buildings throughout Poland. Component 2) The Grant Facility will support investments of US$6.67 million in bundled Energy Efficient (EE) projects in the Krakow region. Component 3) Technical assistance will be provided for several barrier removal activities, including: support for deployment of guarantee mechanism and building the capacity of Bank Gospodarstwa Krajowego (BGK), which is a state-owned development bank that falls directly under the Ministry of Finance, to administer the guarantee; support to ESCO Subsidiary of MPEC (POE ESCO) in the development of the performance contracting model in the Krakow region and to build its pipeline of potential investments; provision of training to local banks; activities to increase awareness and demand for efficiency investments among building owners including municipalities; and collection of project monitoring data and broad dissemination of results.