The Green Climate Fund (GCF) will allocate $20 million for improving energy efficiency of Armenia’s buildings.

A corresponding decision was adopted at a conference in the South Korean city of Songdo.

The program was developed and unveiled by the United Nations Development Program (UNDP).

UN Resident Coordinator and UNDP Resident Representative for Armenia Bradley Busetto said that Armenia became the 1st country in the CIS to get a major GCF grant.

The project will contribute to creating favorable conditions for energy efficiency investments in public and private buildings of Armenia and will be implemented in partnership with Yerevan Municipality. The proposal from Armenia is the first project to be approved by the Board from Central and Eastern Europe.

Eight new public sector project proposals were discussed at the thirteenth meeting of the GCF overall.