In 2013, jointly with the European Commission, the Energy Community Secretariat, WBIF and bilateral donors, EBRD established the Regional Energy Efficiency Programme (REEP). The purpose of the programme is to provide loans, supported by grants and technical assistance to the Western Balkans region for i) financing instruments for specific energy efficiency and renewable energy investments with clear estimates of energy savings and carbon emission reductions ii) technical assistance and grant elements to support project preparation, implementation and capacity building; and iii) policy dialogue to support the development of an enabling environment for sustainable energy.
This WBIF technical assistance grant has supported Window 1 and 3 of the REEP. A Policy dialogue window or Window 1 aims to enhance the regulatory frameworks and overcome market barriers to encourage investment in energy efficiency and allow ESCO markets to emerge. Technical cooperation support is also provided to municipalities for identifying and preparing energy efficiency ESCO projects.
Window 3 refers to a direct financing facility (WeBSEDFF) for investments in both medium-scale renewable energy and energy efficiency improvements in industrial enterprises. This window also includes technical assistance (TA) and investment incentives funded by the contribution under REEP.
