The Steering Group addresses the preparation of projects as many times as necessary, once or twice a year, in preparation of the Assembly of Contributors.
The E5P is a €352 million multi-donor fund initiated during the Swedish Presidency of the European Union in 2009 to encourage municipal investments in energy efficiency and environmental projects in the Eastern Partnership region. Initially active in Ukraine, in 2014 the fund formally extended its activities to Armenia, Georgia and Moldova, Belarus joined in 2017, and Azerbaijan in 2019.
The E5P merges financial contributions from the European Union and a group of 24 nations, including countries which are benefiting from the fund. The contributions are used as grants to support municipal sector projects. The projects approved for implementation in Ukraine have shown that the E5P grants can leverage on average investment volumes that are five times the size of the committed grants. The grant allocations are flexible and recognise priorities of each recipient country with the overall aim to reduce energy use, pollution and greenhouse gas emissions. The fund also supports policy dialogue and regulatory reform.
European Union and a group of 21 nations, including countries that benefit from the fund
The grants from E5P are used as an incentive for municipal clients to take loans provided by participating Implementing Agencies.
The financial statements of the Fund shall be audited on an annual basis before the end of June of the following year by the external auditors of the Fund Manager in a manner consistent with that applied to the other cooperation funds administrated and managed by the Fund Manager. The costs of the audit shall be paid from the management fee referred to in Section 3.04(a).
In case contributors are subject to specific auditing requirements under their respective statutes, their Contributions may be subject to auditing requirements that, together with the manner in which such auditing requirements will be met, shall be agreed between the EBRD and the respective Contributors and set out in the respective Contribution Agreement. All costs for the fulfilment of such requirement shall be covered by the respective Contributor, in addition to the amount of the Contribution made.
The Assembly of Contributors is the main governing body for E5P. Its members incorporate all the contributors to the E5P including the recipient countries. The Assembly approves grant allocations to projects and decides on the fund’s overall strategy and guidelines. There is usually one annual meeting of the Assembly hosted by the EBRD and chaired by the largest contributor to E5P, which is currently the European Union.
The Steering Group, consisting of the recipient countries and the Implementing Agencies, has the task to develop and make project proposals for approval by the Assembly. The work of the Steering Group is driven by the Implementing Agencies and recipient countries.
The EBRD acts as the fund manager of E5P providing administrative support to manage the fund on behalf of all the stakeholders.
The following sectors are eligible for E5P support:
- District heating
- Energy efficiency in public buildings (schools, kindergartens, hospitals)
- Energy saving measures in residential housing
- Renewable energy (including biomass)
- Street lighting
- Water and wastewater treatment
- Solid waste management
- Urban transport
Europe and Central Asia
Submit a project, by gaining the approval of the Steering Group and then the Assembly of Contributors. Reference approved countries here.