74816 v2


Restructuring                                                                      Status: Archived
Restructuring Type: Level two
Last modified on date : 01/16/2013

1. Basic Information
Project ID & Name                              P089656: SUSTAINABLE ENERGY (GEF)
Country                                        Macedonia, former Yugoslav Republic of
Task Team Leader                               Peter Johansen
Sector Manager/Director                        Ranjit J. Lamech
Country Director                               Gerard A. Byam
Original Board Approval Date                   12/19/2006
Original Closing Date:                         03/31/2011
Current Closing Date                           03/30/2013
Proposed Closing Date [if applicable]          03/30/2013
EA Category                                    F-Financial Intermediary Assessment
Revised EA Category                            F-Financial Intermediary Assessment-Financial
                                               Intermediary Assessment
EA Completion Date                             01/14/2005
Revised EA Completion Date


2. Revised Financing Plan (US$m)
Source                                                  Original                      Revised
BORR                                                          0.20                           1.00
GEFU                                                          5.50                           5.50
LFI                                                           2.50                           3.85
Total                                                         8.20                          10.35


3. Borrower
         Organization                          Department                          Location
Macedonia, former Yugoslav                                             Macedonia, former Yugoslav
Republic of                                                            Republic of


4. Implementing Agency
          Organization                         Department                         Location
Macedonia Bank for Development          Macedonia Bank for
Promotion                               Development Promotion




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5. Disbursement Estimates (US$m)
Actual amount disbursed as of 01/28/2013                                                          4.53
         Fiscal Year                              Annual                            Cumulative
2013                                                          0.97                                5.50
                                                          Total                                   5.50


6. Policy Exceptions and Safeguard Policies
Does the restructured project require any exceptions to Bank policies?                                N


Does the restructured projects trigger any new safeguard policies? If yes, please select              N
from the checklist below and update ISDS accordingly before submitting the package.




7a. Project Development Objectives/Outcomes
Original/Current Project Development Objectives/Outcomes
The development objective of the project is to develop a sustainable market for EE and RE by supporting
the development of an enabling framework, institutional capacity, and necessary financing mechanisms.
Specifically, the project would: - Change the current unfavorable investment and incentive conditions and
create an enabling environment in Macedonia that fosters the development of sustainable energy utilization
(in this context defined as efficient use of energy and use of renewable energy sources) through providing
financial, methodological, informational, and institutional support; - Support a large increase in energy
efficiency (EE) investment in Macedonia through development of a self-sustaining, market-based financing
mechanism based on a principle of commercial co-financing.The project's goal is focused on the
development and implementation of financially profitable EE projects, which can provide sustainable and
increasing reductions in GHG emissions without relying on public subsidy; and Increase the availability of
financing for renewable energy (RE) investments, enterprises and intermediaries through the establishment
of a financial facility with a long-term time horizon, which will provide seed capital for debt co-financing
of RE projects.



7b. Revised Project Development Objectives/Outcomes [if applicable]




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