Today, Deputy Ministers of Environment Anna Mazmanyan and Tigran Simonyan participated in the Project Board meeting of UNDP-GCF "De-risking and Scaling-up Investment in Energy Efficient Building Retrofits” through the Zoom platform.


The Government of the Republic of Armenia, adopting the policy of sustainable development, attributes importance to the harmonization of environmental protection, economic development and social protection. This approach is fully reflected in energy efficiency measures - both in buildings, industry and agriculture.
The Republic of Armenia, as the Party  to the United Nations Framework Convention on Climate Change, is actively involved in international processes regarding climate change mitigation and adaptation, collaborating with a number of other international organizations of the United Nations Development Programme.
The Ministry of Environment of the Republic of Armenia, as the authorized national body for the implementation of the Convention, also effectively uses the financial mechanism of the Paris Agreement - the cooperation with the Green Climate Fund - to reduce greenhouse gas emissions, develop climate change projects.
In their remarks, the Deputy Ministers emphasized that in this context, the Ministry of Environment and Minister Romanos Petrosyan put high value on the activities of “De-risking and Scaling-up Investment in Energy Efficient Building Retrofits”grant project of 20 million USD, funded by the United Nations Development Programme,  under the coordination of the RA Ministry of Environment.
This project is the 10th project funded by the Green Climate Fund globally.
The activities of the project are directed to the energy-efficient modernization of residential and public buildings, by creating a relevant investment field, by dint of reducing the related financial and organizational risks.
The project was developed in close cooperation with Yerevan Municipality, and it will contribute to the implementation of Yerevan Sustainable Energy Development Action Plan, since other communities in Armenia may also be beneficiaries of the project. In this regard, within the state subsidy project scopes, the cooperation with the Ministry of Territorial Administration and Infrastructure is significant in terms of implementing measures focused on increasing the energy efficiency of multi-apartment buildings in the communities of the regions.
Summerizing the meeting, Deputy Minister Tigran Simonyan reaffirmed that the Ministry of Environment of the Republic of Armenia, as the Program Coordination Agency, realizes the significance of  successful fulfillment of this project, the success of which largely depends on the cooperation between state and local self-government bodies and the private sector.
The outcomes of the project can be an example and serve as a guarantee for the attraction of new resources by the Green Climate Fund.