The project supports the implementation of the Sustainable Housing NAMA in two ways:
1) It promotes the penetration of efficiency standards in the entire new housing market through technical assistance to large public housing financiers and private developers, as well as financial incentives to small and medium-sized developers and financial intermediaries.
2) It also promotes the upgrading of energy efficiency standards and thereby significantly contributes to the transformation of the residential housing sector to a sustainable one where ambitious energy efficiency technologies have penetrated the market.
The project also generates important co-benefits in addition to the reduction of GHG emissions, such as improved comfort and living conditions of the residents, lower fiscal outlays for energy subsidies, and the growth and technological leapfrogging of the construction sector. It is expected that the FC Component of this project will mobilize EUR 80-120 m in private investments for the construction of low carbon houses within the implementation period of seven years.