Financing Energy Efficiency and Climate Change Mitigation

A Guide for Investors in Belarus, Bulgaria, Kazakhstan, the Russian Federation, and Ukraine

image of Financing Energy Efficiency and Climate Change Mitigation

This report is part of a series of publications that review the performance of multilateral institutions in promoting and financing energy efficiency improvements in selected economies in transition. The cases of Belarus, Bulgaria, Kazakhstan, Russian Federation and Ukraine are presented. These are the five participating countries of the Energy Efficiency Investment Project Development for Climate Change Mitigation project.




In the transition economies of Central and Eastern Europe and the Former Soviet Union, substantial economic and environmental benefits can be gained from implementing measures in energy efficiency in heat and power supply. The energy efficiency sector is particularly attractive because it has a potential for combining economic gains with environmental improvements, thus overcoming the widespread perception that there is an inevitable trade-off between the economy and the environment. At the same time, there are serious barriers to effective implementation of energy efficiency investment schemes. The energy infrastructure in all five countries suffers from many years of neglect as to maintenance and modernization, and is currently in need of major investments to reach the level that will be demanded by societies aspiring for the economic and environmental standards enjoyed by their western neighbours.


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error