October 22, 2013 | 14:04

Armenia, Georgia and Moldova have joined the Eastern Europe Energy Efficiency and Environment Partnership (E5P) in a move to significantly boost their support for energy efficiency and the reduction of harmful emissions.

During a pledging conference held on Monday at the European Investment Bank (EIB) in Luxembourg, the international donor community raised an additional €60 million to enable expansion of the activities of the E5P Fund, the European Commission said in a statement.

Štefan Füle, EU Commissioner for Enlargement and European Neighbourhood Policy and responsible for EU’s policy also towards these partner countries said: “With this funding we are able to support Ukrainian municipalities to provide sustainable and affordable heating to the population and to improve water quality. I am delighted that Armenia, Georgia and Moldova have decided to join the partnership. The European Commission, as the main donor of the fund, is ready to provide up to €30 million for the three countries that are joining the facility, in order to co-finance energy efficiency and environmental projects in municipalities.”

The establishment of the E5P Fund was first proposed in 2009, under Sweden’s presidency of the European Union, with the aim of improving energy efficiency and environmental protection in the Eastern Partnership region. While the intensiveness of these countries is a serious burden for businesses and households, it also represents huge potential for investment in the reduction of CO2 emissions, sustainable energy use, enhanced energy security and affordability, and greater economic competitiveness.

The E5P Fund merges contributions from the EU and donor countries (Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, Poland, Sweden, Ukraine and the USA, and new donors Armenia, Czech Republic, Georgia, Moldova, Romania, and Slovak Republic), which are then used to leverage national funds and loans from international financial institutions.