Training on Financial Analysis of Investment Project Scenarios , 23 October , 2017 in Tbilisi.

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Training on Financial Analysis of Investment Project Scenarios with Application of COMFAR (Computer Model for Feasibility Analysis and Reporting) software has started today on October 23,2017 in Tbilisi. This 5 day training is organized within the framework of UNIDO supported RECP Demonstration Project in Georgia and is intended to build capacity in Georgia in investment projects preparation and financial appraisal the RECP project in Georgia.

This training course is intended for the representatives of  Georgian banks, Small and Medium Sized Enterprises (SMEs), consulting companies, governmental and non-governmental sector representatives which are involved in identification, formulation, evaluation and promotion of investment projects; students with respective educational background such as accounting, economics, financial management, projects management, etc.

GCAP Capacity Building on Waste Policy and Cleaner Production , September 6, 2017

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RECP Project National Coordinator in Georgia Mr. Malkhaz Adeishvili participated in the Capacity Building on Waste Policy and Cleaner Production organized on 6-th September, 2017 in the framework of the EBRD funded project on the development of Green City Action Plan (GCAP) for the City of Tbilisi.  Target group of the Capacity Building included representatives of small and medium sized enterprises (SMEs) from Tbilisi, Tbilisi City Hall, environmental service companies and NGOs. During the event Mr. Malkhaz Adeishvili presented to the audience evolution of the RECP concept, RECP approaches and examples of RECP implementation in  Georgian SMEs. He also made presentation of the Resource Efficient and Cleaner Production Demonstration project in Georgia implemented by UNIDO as a component of the EU funded EaP GREEN program. The Capacity Building event was organised at the Georgian Employers Association (GEA) office.

EaP GREEN: Final National Conference on Resource Efficiency and Cleaner Production in Georgia

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EaP GREEN: Final National Conference on Resource Efficiency and Cleaner Production in Georgia

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More than 70 participants gathered at the National Conference on Resource Efficient and Cleaner Production (RECP) in Georgia on 27 April, 2017 agreed that the progress in promoting resource efficient and environmentally friendly production practices in Georgian small and medium-sized industrial enterprises, implemented as part of the EU-funded project Greening Economies in the European Union’s Eastern Neighbourhood (EaP GREEN), has been impressive.

The review of feasible and low-cost RECP measures identified in 50 small and medium sized enterprises showed savings of over 1 million EUR per year. The RECP demonstration activities also showed important environmental effects which included the annual reductions of: energy consumption by 25 000 MWh, water consumption by 136 000 m3, materials consumption by 2 000 tonnes, air emissions by 1 000 tonnes of CO2eq, reduction of waste waters by 5 680 m3, and solid waste by 7 tonnes.

The Minister of Environment Protection and Natural Resources, Mr. Gigla Agulashvili, said: “The EU funded EaP GREEN project showed concrete results in enhancing the competitiveness of Georgian enterprises, and its contribution to improve cooperation between the government and private sector in identifying joint solutions to reduce the negative impact of production on the environment”.

The Deputy Minister of Economy and Sustainable Development, Ms. Irma Kavtaradze confirmed that capacity built through the project significantly contributed to awareness about the importance of implementing green economy principles in Georgia, which are high in the government’s agenda.

This was echoed by Mr. Elgudja Meladze, President of the Georgian Employers Association who stated that thanks to the project, the RECP methodology is welcomed by businesses as it translates the implementation of state policy on environment protection into clear economic and marketing benefits for enterprises, allowing them to be more efficient and technologically advanced in the application of EU standards.

Representatives of central and local governments, RECP Clubs member companies and other enterprises, business associations, non-governmental sector and experts who were among the participants, agreed that the results achieved so far are the very first steps and more efforts are needed to build on successful initiatives, such as RECP replication through the establishment of RECP Center, which will continue providing services to Georgian companies.

The participants also acknowledged that RECP Clubs in Rustavi and Kaspi, actively supported by the Mayor’s Offices, can now share their lessons learnt and thus the interest in RECP Clubs as an approach to bring resource saving practices to a larger number of enterprises is growing. To meet this demand, a tested and adopted to local needs RECP resource package was offered to the Conference participants for consultation, use and further dissemination.

The Conference was organised as part of the EU-funded Greening Economies in the European Union’s Eastern Neighbourhood (EaP GREEN) Project that assists the governments of Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine to identify efficient policy solutions and practical steps towards a greener and more sustainable economy. The project is implemented jointly by the Organisation for Economic Co-operation and Development (OECD), the United Nations Economic Commission for Europe (UNECE), the United Nations Environment (UN Environment), and the United Nations Industrial Development Organization (UNIDO). For more information see:

The implementation of the RECP Demonstration Project in Georgia is co-ordinated by UNIDO as part of the EaP GREEN. The activities focus on food processing, construction materials and chemicals sectors. They are funded by the European Union and co-funded by Slovenia, the Development Bank of Austria, and UNIDO. More information about the project in Georgia is available at


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Roundtable on Financing Resource Efficient and Cleaner Production Investments in Small and Medium Sized Enterprises in Georgia and the EaP countries

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Roundtable on Financing Resource Efficient and Cleaner Production Investments in Small and Medium Sized Enterprises in Georgia and the EaP countries

Wednesday 26th April 2017, 09:00 – 18:00


Notwithstanding  the  well  documented  cost  savings  of RECP  measures,  manufacturing  companies,  in particular  small  and  medium  sized  enterprises,   often  report  difficulties  in  mobilizing  finance  for identified  investments.   This  has  been  due  to  many  factors.  For  example,  for  many  SMEs  credit conditions deteriorated  in the aftermath of the global crisis, exacerbating  the effects of long-standing challenges,  such  as  information  asymmetries,  lack  of  collateral  and  a  higher  credit  risk  for  SMEs compared to large firms.

As part of the EU-funded project Greening Economies in the European Union’s Eastern Neighborhood (EaP  GREEN)  efforts  have  been  made  to  explore  possible  ways  to  bridge  the  gap  between  RECP assessments and RECP investments and leverage funding for the transition towards a green economy. With support from the Development  Bank of Austria a first EaP GREEN national  roundtable  on RECP financing   in   Georgia   was   organized   on   24th   March   2015   in   Tbilisi.   Representatives   from financial

institutions,   business  and  government   sectors  who  participated   in  the  Roundtable  discussed  the business potential of RECP investments and identified practical ways forward for mobilizing financing for RECP investments in the country.

Following  the  workshop  a  number  of  follow-up  activities  were  conducted  in  2016-2017  with  the

objective of enhancing the RECP financing in Georgia, including:

–      A  study  by  a  local  expert  exploring  existing  funding  mechanisms  in  the  country  which  could  be

potentially applied for financing RECP projects in SMEs;

–      An  in-depth  techno-economic  and  environmental  assessments  of  RECP  options  and  pilot  RECP

project proposals for 7 companies including financial analysis of the proposed investments;

–      Consultations with the companies and local banks to finance and implement the proposed RECP

pilot projects;

–      A survey of SMEs participating in the RECP demonstration project to learn about the companies’ attitudes towards financing RECP activities.

Purpose of the workshop

A second Roundtable on RECP Financing in Georgian SMEs, that will be organized on 26 April, 2017 in Tbilisi, aims to address possible ways to bridge the gap between companies and financial institutions for financing  and  implementing  RECP  activities  including  adaptation  and  adoption  of  innovative  RECP technologies.

In the first part of the workshop, representatives  of the UNIDO-led EaP GREEN Demonstration  Project will demonstrate  the economic  benefits  and financial  returns  of the RECP pilot projects,  discuss  the opportunities for and barriers to financing RECP projects in Georgia, and identify ways to enhance RECP financing in Georgian SMEs.

The second part of the workshop will allow sharing experience and knowledge among the EU Eastern Neighborhood  Countries  about  the  barriers  and  opportunities  for  enhancing  the  financing  of  RECP (green) investments in the region.

The   audience   of   the   workshop   will   include   representatives   of   the   demonstration   companies participating  in the UNIDO project, international  and local financial institutions,  representatives  of the ministries of economy and environment,  project Steering Committee members, business associations, NGOs  and  academia.    National  Coordinators  of  the  UNIDO  RECP  Demonstration  Project  and  RECP experts  from 6 beneficiary  countries,  national RECP experts  from Georgia,  representatives  of UNIDO, and international donor organizations will participate in the workshop.

Key issues:

–      What are the barriers for SME to apply for eco/green loans?

–    Which  international  and  national  financial  institutions,  including  commercial  banks,  provide financing for RECP/green activities including energy efficiency projects;

–      What type of projects are financed by the financial institutions;

–     What  are  the  loan  conditions  (interest  rate,  loan  repayment  period,  collaterals,  subsidies  by international financial institutions)  offered  to SMEs for green investments;

–      What  are  the  risks  for  companies  to  borrow  money  for  green  activities  and  for  commercial banks to provide funds?

–      Which alternatives to bank lending are available to SMEs for green investments?

–      What  needs  to  be  done  to  bridge  the  gap  between  SMEs  and  finance  providers  to  up-scale  the financing of RECP investments?


List of Participants

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