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EDIFEE TO ALLOCATE ~@470M TO ARMENIA, GEORGIA, AZERBAIJAN
PanARMENIAN.Net
June 14, 2012 - 12:35 AMT
PanARMENIAN.Net - The European Development and Investment Fund for
Eastern Europe (EDIFEE) has announced it will allocate a budget of
~@470 million for investment in the Environmental and Energy sector
of Georgia, Armenia and Azerbaijan.
According to a press release, the decision was approved at the
Fund board meeting last week. The funds will invest in eligible
environmental and energy projects under the requested criteria's
trough a duration of 36 months.
The fund has announced the decision was followed by the major
success in the fund initiatives in the Republic of Moldova. EDIFEE
has provided with financial support in structuring the financing of
11 waste management and treatment facilities which are as a part
of ECOVERDEŽ national waste management project in the Republic of
Moldova, with the supervision of the Ministry of Construction and
Regional Development of the Republic of Moldova (MCDR).
ECOVERDEŽ Moldova investment is estimated at a total value of 370
million ~@, with first implementation and construction stages to
start in the following months. The project is done in collaboration
with Mentor Group Holdings Consortium.
The funds projects eligibility criteria are mostly to invest in
economically low risk feasible projects with a decent capability to
encourage implementation of EU environmental standards and a positive
social impact (such as job creations).
For its investments in Georgia, Armenia and Azerbaijan, the fund
is focused on infrastructure projects (such as-waste management,
water treatment systems etc') and also in renewable energy projects
(such as Solar (PV), Wind, Biomass).
"Allocating a sufficient investment for Georgia, Armenia and
Azerbaijan was done after careful analysis of those countries needs
in environmental and energy investments. Those investments will
create better infrastructure and services for large parts of the
population in these countries along with a low risk investment for
the fund itself. Beside the large volumes of the investment capacity,
we consider it as well as a very good investment due to the successful
financial structuring of ECOVERDEŽ waste management projects in the
Republic of Moldova," the memorandum for investors said.
The fund is addressing private entrepreneurs and governmental agencies
to apply with early stage projects in the energy, infrastructure and
environment sector to be included under the fund coverage.
PanARMENIAN.Net
June 14, 2012 - 12:35 AMT
PanARMENIAN.Net - The European Development and Investment Fund for
Eastern Europe (EDIFEE) has announced it will allocate a budget of
~@470 million for investment in the Environmental and Energy sector
of Georgia, Armenia and Azerbaijan.
According to a press release, the decision was approved at the
Fund board meeting last week. The funds will invest in eligible
environmental and energy projects under the requested criteria's
trough a duration of 36 months.
The fund has announced the decision was followed by the major
success in the fund initiatives in the Republic of Moldova. EDIFEE
has provided with financial support in structuring the financing of
11 waste management and treatment facilities which are as a part
of ECOVERDEŽ national waste management project in the Republic of
Moldova, with the supervision of the Ministry of Construction and
Regional Development of the Republic of Moldova (MCDR).
ECOVERDEŽ Moldova investment is estimated at a total value of 370
million ~@, with first implementation and construction stages to
start in the following months. The project is done in collaboration
with Mentor Group Holdings Consortium.
The funds projects eligibility criteria are mostly to invest in
economically low risk feasible projects with a decent capability to
encourage implementation of EU environmental standards and a positive
social impact (such as job creations).
For its investments in Georgia, Armenia and Azerbaijan, the fund
is focused on infrastructure projects (such as-waste management,
water treatment systems etc') and also in renewable energy projects
(such as Solar (PV), Wind, Biomass).
"Allocating a sufficient investment for Georgia, Armenia and
Azerbaijan was done after careful analysis of those countries needs
in environmental and energy investments. Those investments will
create better infrastructure and services for large parts of the
population in these countries along with a low risk investment for
the fund itself. Beside the large volumes of the investment capacity,
we consider it as well as a very good investment due to the successful
financial structuring of ECOVERDEŽ waste management projects in the
Republic of Moldova," the memorandum for investors said.
The fund is addressing private entrepreneurs and governmental agencies
to apply with early stage projects in the energy, infrastructure and
environment sector to be included under the fund coverage.