Capacity Building of Local Banks on Financing Energy Efficiency Projects

The United Nations Industrial Development Organization (UNIDO) was implementing the Ghana Industrial Energy Efficiency Readiness initiative aimed at implementing Ghana’s National Determined Contribution (NDC) commitments for the industrial sector. Access to finance was identified as the main barrier to industrial energy efficiency in Ghana, resulting in a lack of large-scale demonstration projects that can serve as pilots for the market.   In this context, Econoler’s mandate was aimed at raising the awareness and building capacity of banks and local financing institutions by delivering a capacity building program. Based on the results of a capacity needs assessment, training courses were delivered and tools and guidelines were provided to benefit local banks and financing institutions.

Under the mandate, Econoler carried out the following tasks:

• Conducted a market study to assess energy efficiency financing risks in Ghana and identified risk mitigation measures and strategies;
• Conducted a capacity needs assessment of the financing sector related to energy efficiency finance;
• Developed a training curriculum and materials based on the findings of the capacity needs assessment;
• Delivered an energy efficiency finance awareness session for senior level bankers;
• Delivered two comprehensive EE finance training workshops for operational level bank officers;
• Delivered tools and guidelines for local banks and financing institutions to help assess energy efficiency projects.

  Econoler’s intervention helped to mitigate the perceptions of Ghanian banks and financing institutions about the risks associated with energy efficiency projects and enhanced their internal capacity to identify and assess EE investments.