Yerevan, Armenia, April 12, 2012—IFC,
a member of the World Bank Group, launched its annual Energy Efficiency
Expo today in Armenia, showcasing energy efficient technologies that will
help local entrepreneurs save energy, cut costs and reduce greenhouse gas
The expo is part of IFC’s efforts in
Europe and Central Asia to address climate change and help companies become
more resource efficient and profitable. This year, in addition to showcasing
energy saving technologies and equipment, IFC is also highlighting the
importance of energy efficiency in the residential sector with round-table
discussions and a presentation by Byblos Bank Armenia. The IFC client will
offer information about its residential energy efficiency financing program.
“Expanding access to finance for energy
efficiency projects in Armenia is a priority for IFC,” said Tigran Parvanyan,
Manager of IFC’s Sustainable Energy Finance Project in Armenia. “By becoming
more energy efficient, businesses will reduce their energy costs and increase
competitiveness. A more energy efficient residential sector will also help
homeowners reduce utility costs, which is especially important for low-income
The Energy Efficiency Expo is being
held in Moscow House, Yerevan through April 14th. It is organized by the
IFC Armenia Sustainable Energy Finance Project, in partnership with the
Austrian Ministry of Finance, and is presented by ExpoMedia Center of Exhibition
Since Armenia became a member of IFC
in 1995, IFC has invested $202 million in 35 projects across several sectors,
including financial markets, manufacturing and mining. IFC Advisory Services
also provides advice through projects focusing on the financial sector,
sustainable energy and regulatory simplification.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.
For information about the Austrian
Ministry of Finance, visit http://english.bmf.gv.at.