ArmInfo.Armenia and the Green Climate Fund signed a framework agreement. The press service of the Ministry of Nature Protection of the Republic of Armenia reports.
According to the source, the signing of the document took place yesterday on the sidelines of the 24th UN climate conference in the Polish city of Katowice. The agreement, the press service of the Ministry of Nature Protection notes, will ensure the implementation of more effective activities in Armenia under the auspices of the foundation. To this end, the fund annually provides developing countries with $ 100 billion. In October of this year, it was reported that the European Bank for Reconstruction and Development received 87 million euros from the Green Climate Fund for the implementation of sustainable urban development programs in Armenia, Albania, Georgia, Jordan, Macedonia, Moldova, Serbia and Tunisia.
Financing by the EBRD and the Fund will assist cities and municipal utilities in addressing the most pressing climate change challenges, such as greenhouse gas emissions, climate change adaptation, energy intensity, solid waste management, replacing inefficient street lighting and managing water services. This initiative is part of the EBRD Green Cities Framework Program, which is based on the bank's two years of experience in investing in municipal and environmental infrastructure. In 2016-2018 alone, the EBRD plans to invest about 2.5 billion euros in municipal projects that reduce CO2 emissions by about 800,000 tons per year. The ? 87 million provided by the Green Climate Fund is the first tranche of total funding of ? 228 million. At the same time, full funding will assist 23 million people and will lead to a reduction in emissions of 12 million tons of CO2, which is equivalent to emissions of gases from more than 2.3 million passenger vehicles per year.