LocationsUNDP and Ministry of Finance Sign a Letter of Agreement
November 7, 2024
On 6 November, RA Minister of Finance Vahe Hovhannisyan and UNDP Resident Representative Armenia Natia Natsvlishvili signed a Letter of Agreement to advance the “De-risking and Scaling up Investments for Energy-Efficient Building Retrofits” project.
This agreement outlines a commitment to co-finance the energy efficient retrofitting of at least another 50 buildings. Under this initiative, the Ministry of Finance will act as an implementing partner. The project's contribution is up to USD 3 mln.
By enhancing building efficiency, we aim to significantly reduce greenhouse gas emissions and build a greener, more resilient Armenia.
The project is being implemented by UNDP in Armenia, financed by the Green Climate Fund, and coordinated by the RA Ministry of Environment. Since its start in 2017, the project has co-financed upgrading of 157 multi-apartment buildings and 59 public buildings, including 45 kindergartens and schools.
