EU representatives are on a joint mission in Yerevan to discuss policy priorities and sustainable investment solutions for energy efficiency in buildings, both public and private.

Lawrence Meredith, Director for Neighbourhood East at the European Commission and representatives from leading International Financing Institutions (IFIs) met with key government ministers and sector experts to discuss the potential to scale up investments in energy efficiency in buildings, as well as the necessary reforms.

“In Armenia, buildings consume up to 40% of total energy, which has a significant impact on Armenian families’ budgets and the environment. Together with the main financing institutions, we are here to discuss with the new Armenian government where mobilizing our support would significantly improve energy efficiency in buildings and, ultimately, the living standards of people,” Lawrence Meredith said.

“The EU bank, in cooperation with the European Commission and partner financing institutions, supports projects in Armenia contributing to the improvement of everyday life of citizens. Increase of energy efficiency of buildings is important for the wellbeing of people, energy and cost savings, as well as combatting climate change. There is a significant potential for energy performance improvements in Armenia,” commented Lionel Rapaille, EIB, Head of Division, Eastern Neighborhood.