Project Name：The Green Energy Special Fund

Project status：Completed projects

Cooperating Country：Eastern Europe, West and Central Asia

Project Description：

The TaiwanICDF makes a contribution of US$80 million to the Green Energy Special Fund (“GESF”). Proceeds from the TaiwanICDF’s sub-account under the GESF is used to co-finance EBRD’s lending operations to national and municipal governments in accordance with the TaiwanICDF’s geographical preferences and linked to projects containing green energy components, including but not limited to, technologies such as light-emitting diode (LED) street lights, smart meters, solar-powered technology, public transportation and electric systems.
Preferred countries in 2011 are: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Russian Federation, Tajikistan, Turkey, Ukraine, Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Romania,Serbia, Moldova, FYR Macedonia and Poland.

Region：World Wide

Project Objectives：Meet the energy needs of beneficiary countries in Central Europe, Eastern Europe and Central Asia as they make the transition to low-carbon energy solutions; promote energy efficiency and the development of renewable energy.

Executing Agency：EBRD

Implementation Arrangement：1. The EBRD will act as the Contribution Administrator and Executing Agency and will manage and oversee projects under the GESF for at least the duration of the associated EBRD loan.
2.The GESF will co-finance selected EBRD-financed projects with donor resources, which will be provided alongside EBRD-administered technical assistance. GESF projects will be subject to the standard approval processes of the EBRD’s Operations Committee and Board of Directors and will be developed in line with the overall policies and guidelines of the Bank, including its 2008 Environmental and Social Policy and its Procurement Policies and Rules.
3. As a general rule agreed by the EBRD and the TaiwanICDF, the EBRD will, in practice, submit project proposals to the TaiwanICDF for approval before committing to implementation.

Project Contact：Su, Yi Chung

Phone：886-2-28786073

E-mail：y.c.su@icdf.org.tw

Signing Date：2011-05-19

Projected Benefits：

1. The introduction of green technology will prevent authorities from becoming locked into outdated, high-carbon options when investing in municipal infrastructure. 2.The implementation of the project should demonstrate that projects containing green energy components can be replicated in the long-term. The project will facilitate competitive entry of low carbon players into a market currently dominated by their higher-carbon counterparts.