Energy Transformation and Climate Change

As nations plan their recovery from the pandemic, they have a unique opportunity to make climate investments that will not only unlock short-term gains—like jobs and economic growth—but also deliver long-term benefits, including decarbonization and resilience. IFC has been intensifying its work to provide private sector solutions to tackle climate change, using its capital, international expertise, and local knowledge to attract commercial investments and maximize impact. 

Examples of What We Do:

  • Throughout the region, we have been supporting the green housing market, a viable and effective solution to fight climate change. 
  • In Serbia, we supported the Belgrade waste-to-energy project, which is replacing an aging, polluting landfill and using waste to produce electricity and heat.
  • In Ukraine, we supported Ukrgasbank to boost financing for green energy projects. 
  • We engaged with the fast-growing urban centers in Ukraine - Mariupol, Kryvyi Rih and Zaporizhzhia - to implement climate-smart infrastructure and improve the sector’s energy efficiency. 
  • In Armenia, we supported the first utility-scale solar power plant in Armenia, which is also the first for the Caucasus.
  • In the region, we launched the Green Banking Academy to accelerate the green transformation of the region’s banking sector.