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IFC Helps Armenian Businesses Reduce Energy Consumption and Increase Efficiency

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 emissions.
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 households.”
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 Projects.
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.
About IFC
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 .
For information about the Austrian Ministry of Finance, visit .
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