Development cooperation

Eastern Europe Energy Efficiency and Environment Partnership Fund

Description

E5P Trust Fund strengthens municipal investments in Eastern Partnership countries by increasing energy efficiency and improving the state of the environment. E5P takes a holistic approach and combines so-called green projects with inclusive measures for vulnerable groups and sector-specific reforms. This supports the structure of the municipal infrastructure to be more economically, socially and environmentally sustainable. The projects offer commercial potential also to Finnish enterprises. The Fund supports Ukraine (as well as Moldova and Georgia) in the efforts to achieve closer cooperation with the EU. In Ukraine, projects responding to urgent needs focus on the processing of construction and demolition waste, safeguarding the municipal solid waste infrastructure and district heating systems, and improving the energy efficiency of buildings and public transport. Long-term projects support the reconstruction of the country. The projects are in line with Finland's development policy by adapting to the climate change and support the cross-cutting priority on climate resilience and low greenhouse gas emissions. The Fund also reponses to the goal of environmental security and energy efficiency in the Peace Formula. The E5P Fund was established during Sweden’s EU Presidency in 2009. The basis for the establishment of the E5P was to address high energy intensity and environmental considerations of Ukraine and other Eastern Partnership countries through multilateral cooperation. E5P’s activities have been continued for a new 10-year period and the fund will remain operational until 31 December 2029. Finland has supported the E5P Trust Fund by a total of EUR 4 million in 2011-2014 and 2020-2022, and by 4,8 million in 2023-24. This commitment 0,8 MEUR is allocated to Ukraine.

Funding decision

800 000 €

Objectives monitored by OECD's Development Assistance Committee

  • Climate change - mitigation
  • Aid to environment

Field of activity

  • Energy generation, renewable sources – multiple technologies 20%
  • Urban development and management 10%
  • Energy conservation and demand-side efficiency 70%

Funding channel

Euroopan jälleenrakennus- ja kehityspankki - technical co-operation and special funds (ODA-eligible

Contact

itä-20

Code for the object of funding

89886701

ID

UHA2023-011883

Modified

28.11.2023