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Energy-efficient and climate-resilient buildings are more important than ever to prevent or alleviate ongoing energy, economic and climate crises. Promoting green buildings at scale can strengthen local economies, create jobs, provide resilient shelter, improve energy security and lower living costs for households.
In December 2021, the Directorate-General for Neighbourhood and Enlargement Negotiations (DG NEAR) of the European Commission has approved 30 million EUR funding to scale-up the Programme for Energy Efficiency in Buildings PEEB’s investment facility in the Mediterranean region. As a result, PEEB Med will be launched at COP27 and start implementation in January 2023 with a total budget of 460 million Euros.
Seven countries will participate in PEEB Med: Algeria, Egypt, Jordan, Lebanon, Morocco, the Palestinian Territories and Tunisia. The programme will directly benefit to 14 million people and help avoid 1 million tonnes of CO2 equivalent over a 50 years period.
PEEB Med will combine technical project assistance integrating energy and climate targets in line with the respective Nationally Determine Contributions. The programme will support countries during inception, design and construction of large public and private renovation and construction projects in the region.
In addition, the programme will provide investment grants to cover the extra cost of energy efficiency measures. The objective is to lower the financial barrier and the perception of risk of investing in energy-efficient buildings.
Through their scale or their replicability, supported projects will demonstrate the viability of energy efficiency measures and induce transformation in the construction sector through more ambitious public procurement requirements and hands-on capacity building for buildings sector professionals.
On Monday, 7 November 2022, PEEB Med will be officially launched at COP27 in Sharm El Sheikh at a special event at the first-ever Mediterranean Pavilion hosted by the Union for the Mediterranean. Click here for live stream to the event.
AFD will deploy PEEB Med in close coordination with the Mitigation Enabling Energy Transition in the Mediterranean region project (MeetMED II) to disseminate knowledge and unlock synergies between policy support actions and energy efficiency financing.
PEEB Med was announced earlier this year by Isabel Geppert, Head of the PEEB secretariat, at the World Urban Forum 11 in Katowice, Poland.
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