Yerevan/Mediamax/. The European Development and Investment Fund for Eastern Europe (EDIFEE) will allocate a budget of €470 million for investment in the environmental and energy sector of Georgia, Armenia and Azerbaijan.

The funds will invest in eligible environmental and energy projects under the requested criteria’s trough a duration of 36 months, Mediamax reports.

For its investments in Georgia, Armenia and Azerbaijan, the fund is focused on infrastructure projects: waste management, water treatment systems and also in renewable energy projects such as solar, wind, biomass.