MINSK, 12 May (BelTA) – The World Bank is considering the possibility of establishing an energy effectiveness fund in Belarus. The information was released by Peter Thomson, Director of the Sustainable Development Sector Unit in Europe and Central Asia Region of the World Bank, at a presentation in Minsk on 12 May, BelTA has learned. Peter Thomson remarked that the World Bank plans to invest around $300 million in energy effectiveness projects in Ukraine. “The money is required for establishing an energy effectiveness fund. It will use energy effectiveness opportunities both in state and private sectors,” explained the World Bank representative. In the future the World Bank will consider the possibility of setting up similar mechanisms and a similar fund in Belarus. “We believe that such funds allow promoting energy-effective technologies into the state and private sectors. The method has proved its effectiveness,” said Peter Thomson. At present energy effectiveness funds successfully operate in many countries across the globe, including Bulgaria. Japan is one of the countries that implement energy effectiveness projects most dynamically. Japan successfully reduces energy consumption ratio using various tax incentives and other tools. The country uses several modern technologies to reduce energy consumption while special crops are cultivated to reduce greenhouse gas emissions. The World Bank also plans to provide Belarus with access to carbon finance.

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