Home / Economy / NEFCO to Allocate 2.8 Million Euros for Georgia

NEFCO to Allocate 2.8 Million Euros for Georgia

Georgia will receive financial support from the Scandinavian Environment Finance Corporation for improving energy efficiency of public buildings.

The relevant agreement was signed by the Minister of Finance with NEFCO. Within the framework of the agreement NEFCO will allocate 2.83 million euros. The country will also receive grant worth of 1.87 million euros from the Regional Fund of Energy Efficiency and Environmental Cooperation of Eastern Europe.

The goal of the project is to implement energy efficiency in public buildings, which means introducing renewable and alternative energy sources in administrative and educational buildings.

Project implementation is expected in 2018-2020. The following cities and regions are considered: Tbilisi, Rustavi, Kartli, Kakheti, Mtskheta-Mtianeti Samtskhe-Javakheti, Guria and Samegrelo. The project will be implemented by Municipal Development Fund.