The funding includes $15 million from IDB’s capital and $10 million grant from the Global Environment Facility (GEF).
The funding facility for Brazil's Energy Efficiency Guarantee Mechanism (EEGM) will be deployed in parallel with technical assistance activities by the UN Development Program (UNDP).
EEGM is being developed in partnership between the IDB and GEF through UNDP.
The projects targeted under the scheme include the replacement of inefficient lighting systems, old chillers, pumps, boilers and motors, control systems to save energy during occupation and non-occupation of the installation, etc.
The EEGM program was designed by IDB in partnership with UNDP and GEF with the objective of developing the market for financing energy efficient building operations in Brazil and assisting the move towards a less carbon intensive and more efficient energy consumption path in the country.
Related LinkIDB Press release
