FP063
Promoting private sector investments in energy efficiency in the industrial sector and in Paraguay
Promoting private sector investments in energy efficiency in the industrial sector and in Paraguay
Reducing reliance on fuelwood and other fossil fuel energy sources by Paraguayan SMEs, increasing their energy efficiency and shifting energy use to renewable hydropower.
Paraguay has a high hydropower capacity, yet industry is largely powered by traditionally inexpensive fuelwood (constituting 83 percent of industrial energy use), causing large amount of emissions from wood burning and associated deforestation. Hydropower is being increased as part of the country's long-term renewable energy goal. At the same time, zero deforestation laws in several regions have increased the price of fuelwood, a trend that is likely to continue. Despite these developments, SMEs are still largely using biomass, and opportunities exist to shift their energy use to renewable sources in order to reduce emissions.
Tools will be developed to generate an enabling environment for energy efficiency investments by SMEs, including standardized performance contracts, insurance contracts, and monitoring and verification systems. Concessional credit lines will be provided to local financial institutions and SMEs, whilst support will facilitate positive institutional, policy and regulatory environments for energy efficiency investments.
The project has an estimated lifespan of 5 years.
Project timeline
Pipeline
12 May 2015 - 1025 days
Concept note received
12 May 2015
Funding proposal received
11 Apr 2017
Cleared by GCF Secretariat
01 Dec 2017
Cleared by iTAP
06 Feb 2018
Approved
01 Mar 2018 - 322 days
Approved by GCF Board
01 Mar 2018
Legal opinion on AE's Internal Approval
28 Jul 2018
FAA executed
24 Dec 2018
Under implementation
16 Jan 2019 - 2,159 days so far
FAA effective
16 Jan 2019
Disbursement - USD 3,000,000
11 Mar 2019
Disbursement - USD 2,000,000
21 Oct 2024
To be completed
16 Jan 2028 - 1,130 days to go
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Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing22% disbursed
Instrument | Amount |
---|---|
Loan | USD 20,000,000 |
Grant | USD 3,000,000 |
Total GCF Financing |
---|
USD 23,000,000 |
Co-financing
Co-financer | Instrument | Amount |
---|---|---|
Co-Financing | Loan | USD 20,000,000 |
Total Co-Financing |
---|
USD 20,000,000 |
GCF Contacts
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Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
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Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
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Entity
Inter-American Development Bank
Chief, Resource Mobilization Division
1300 New York Avenue, NW, 20577., Washington DC, United States
Lead Climate Change Specialist
1300 New York Avenue NW, Washington, D.C., United States
More contacts
National Designated Authority
Ministry of Economy and Finance
Minister of Economy and Finance
Chile 252 /1220, Asunción, Paraguay
Senior Analyst
Chile 252 /1220, Asunción, Paraguay
Technical Analyst of the Vice Ministry of Economy and Planning of the Ministry of Economy and Finance
Chile 252 /1220, Asunción, Paraguay