Yerevan, Armenia, March 10, 2011—A
new trade fair by IFC, a member of the World Bank Group, showcases products
and services to help Armenian businesses reduce their energy consumption
and thereby improve efficiency and stimulate growth.
Energy Efficiency Expo 2011, held in
Moscow House, Yerevan on March 10-12, is designed to provide solutions
for businesses, in particular small and medium enterprises, to become more
energy efficient by introducing them to vendors and suppliers of energy-efficient
equipment. The exhibition is part of IFC’s regional strategy of integrating
its investment and advisory services to help companies become more resource
efficient and profitable.
According to the IFC report Energy
Efficiency: A New Resource for Sustainable Growth, the Armenian industrial
sector could save up to 14.5% of energy costs by further improving energy
efficiency. The 100 companies surveyed indicated plans to invest more than
$35 million in energy efficiency in the short term, which represents a
market potential of more than $200 million in Armenia.
“When enterprises use old or obsolete
equipment, they have higher operating costs and energy expenditures,”
said Thomas Lubeck, IFC Regional Head for the Caucasus. “They also waste
significantly more energy, thus contributing to climate change. IFC’s
priority is to help companies in the region to become more energy efficient
and competitive, and the Armenia Energy Efficiency Expo provides a good
opportunity for companies to learn about the latest energy efficiency technologies
and products, as well as for the vendors to network with potential customers.”
To stimulate market interest and promote
sustainable energy finance, the exhibition also targets banks and universal
credit organizations that are planning to develop energy efficiency financing
products. The Energy Efficiency Expo is funded by IFC Armenia Sustainable
Energy Finance project and presented by ExpoMedia Center of Exhibition
Projects. IFC Armenia Sustainable Energy Finance Project is run in collaboration
with the Austrian Ministry of Finance.
Since Armenia became a member of IFC
in 1995, IFC has invested $110 million in 24 projects across industries,
including financial markets, general manufacturing, and mining. IFC Advisory
Services provides advice through projects focusing on the financial sector,
sustainable energy, and investment climate regulatory simplification.
IFC, a member of the World Bank Group,
is the largest global development institution focused on the private sector
in developing countries. We create opportunity for people to escape poverty
and improve their lives. We do so by providing financing to help businesses
employ more people and supply essential services, by mobilizing capital
from others, and by delivering advisory services to ensure sustainable
development. In a time of global economic uncertainty, our new investments
climbed to a record $18 billion in fiscal 2010. For more information, visit
To learn more about the Austrian
Ministry of Finance, visit http://english.bmf.gv.at.