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News: February 2009

MEMORANDUM OF UNDERSTANDING SIGNED BETWEEN UNDP AND THE DIRECTORATE FOR DEVELOPMENT OF SMALL AND MEDIUM-SIZED HYDROELECTRIC POWER STATIONS

Yesterday a Memorandum of Understanding was signed at the UN House between the United Nations Development Program and the Directorate for development of small and medium-sized hydropower stations in Kyrgyzstan as part of the project on reducing greenhouse gas emissions.

The Memorandum was signed by the UNDP Resident Representative in the Kyrgyz Republic, Neal Walker and General Director of the Directorate, Felix Kulov.

Opening the ceremony, Mr. N.Walker said: CDM projects offer great opportunities for Kyrgyzstan to attract investment and new technologies and the UNDP is honored to give the country the chance to use its expert potential to carry out expertise.

Mr. Felix Kulov, in his turn, said: Apart from the environmental component, the project has an established mechanism of attracting investors. This makes it attractive for them to build small hydropower stations in remote regions. CDM allows to compensate the part of the costs of investors, but some stations can payback through the sale of quotas in less than 10 years.

The ultimate goal of this project is to reduce greenhouse gas emissions in the atmosphere and mitigate the effects of global warming through the practical use of cleaner energy sources, in particular, small and medium-sized hydroelectric power stations. To attract investment in the energy sector Kyrgyzstan will use the Clean Development Mechanism (CDM). Direction for the Development of Small-and medium-sized hydroelectric power stations will have access to the Carbon Fund for the Millennium Development Goals, where the UNDP experts will help prepare the project documentation. Within the framework of this Memorandum it is planned to build 12 small hydroelectric power stations in remote areas with total capacity of 270 thousand megawatts per year.

Source: CARNet, 6.02.2009

TAJIKISTAN AMONG 8 COUNTRIES IDENTIFIED FOR WORLD BANK'S ADAPTATION CLIMATE INVESTMENT FUNDS

Developed and developing country governments have decided which countries will be offered funding under a pilot program from the $6 billion Climate Investment Funds (CIF).

Bangladesh, Bolivia, Cambodia, Mozambique, Nepal, Niger, Tajikistan and Zambia have been invited to participate in the Pilot Program for Climate Resilience (PPCR) which will provide about $500 million for scaled up action and transformational change in integrating climate resilience in national development planning.

The PPCR is part of the CIF's Strategic Climate Fund, a World Bank press statement said on Friday.

Members of the governing body, the PPCR Sub-Committee, met in Washington on Thursday and agreed on these countries on the basis of recommendations of an independent Expert Group.

The criteria used to identify the countries include the level of vulnerability to climate change hazards and risks, country preparedness to move towards climate resilient development plans, and country distribution across regions and types of hazards, the World Bank said.

The CIF will be implemented through the multilateral development banks: African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank and the World Bank Group.

Discussions continue on a proposed program to pilot scaled up investments in low income countries for renewable energy, provisionally known as the Scaling Up Renewable Energy Program.

The Strategic Climate Fund (SCF) Trust Fund Committee requested that a smaller multi-stakeholder working group be convened on March 9-10 to prepare a draft design document for the new program, according to the statement.

Source: CARNet, 6.02.2009