The Finance and Technology Centre for Climate Change (FINTECC) program provides eligible entities with financial support, partially free technical assistance, investment incentives, and Climate Innovations Vouchers (CIVs). FINTECC offers incentive grants to encourage the adoption of eligible technologies, which complement financing from the European Bank for Reconstruction and Development (EBRD) as well as from the Global Environment Facility (GEF). The program also organizes technical support, delivered by the EBRD and international consultants. To facilitate the transfer of climate technology in each region, FINTECC assists participating governments in improving their policy environments and legislative frameworks, thereby enabling organizations to adopt a broad range of climate technologies.
European Union and the Global Environment Facility
Grant support to cover technology costs varies across countries, and it is usually determined as a percentage of the total cost of the technology.
The clients are required to report on pre-determined metrics/KPIs one year after the integration of the technology. The reporting KPI and benchmarks are agreed up at the signing of the project.
FINTECC is funded by the EBRD and the Global Environment Facility (GEF).
- The GEF provides grants for climate technology projects, acting as a partnership between countries, international institutions, non-governmental organisations and the private sector.
- The EBRD, as one of the Facility’s implementing agencies, receives project-specific technical assistance, project preparation grants and grant co-financing. These are applied in two key areas, namely water and climate change mitigation and adaptation.
Project’s eligibility is determined on a case-by-case basis, eligible climate technologies are always those with low market penetration and good replicability potential.
Examples of eligible climate technologies include:
- Greywater recycling and rainwater harvesting;
- Applications of cogeneration and trigeneration systems;
- Advanced heat recovery systems in industrial applications;
- LED lighting and advanced energy management systems.
Companies in participating EBRD countries of operations to implement innovative climate technologies.
Participating countries include: Eqypt, Jordan, Morocco, Tunisia, Armenia, Azerbaijan, Belarus, Georgia, Kyrgyz Republic, Moldova, Mongolia, Tajikistan, Turkmenistan, Uzbekistan, Kazakhstan, and Ukraine.
STEP 1 A company approaches the EBRD with a specific investment plan and financing request.
STEP 2 Having reviewed the investment plan, the EBRD provides the terms of a potential financing.
STEP 3 The EBRD completes a screening of all energy, water and materials efficiency opportunities, relating to the proposed investment plan and the company’s operations. The Bank can also arrange a donor-funded technical audit, if required.
STEP 4 The EBRD seeks approval of the financing. If the investment plan features eligible technologies, an incentive grant will be approved as part of the process.
STEP 5 The client company implements the investment plan, including the eligible climate technologies.
STEP 6 Once evidence of successful implementation has been provided, the EBRD reimburses the company, using the incentive grant.
The EBRD-led ENVITECC (Financing Advanced Environmental Technologies in the Mediterranean Sea Region for Water Systems and Clean Coasts) is a Child Project under the broader MedProgramme (Mediterranean Sea Programme: Enhancing Environmental Security) funded by Global Environment Facility (GEF) and led by UN Environment Programme (UNEP). It helps private and publicly-owned businesses in the target countries (Albania, Bosnia and Herzegovina, Egypt, Lebanon, Montenegro, Morocco, Tunisia and Turkey) to implement advanced environmental technologies in wastewater treatment and recycling and POPs elimination and reduction. This objective is achieved with support from a combination of GEF funds within the International Waters (IW) and Chemicals and Waste (C&W) focal areas with EBRD co-financing and, where possible, complemented with investments from other co-financiers and/or sponsors equity.