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The Development Objective of the Additional Financing for Financing Energy Efficiency at MSMEs Project is to increase demand for energy efficiency investments in target micro, small and medium enterprise clusters and to build their capacity to access commercial finance. It supports the global environmental agenda of stabilizing atmospheric concentrations of greenhouse gases (GHG) through an increase in Energy Efficiency investments and resulting energy savings. The proposed additional financing (AF) is consistent with the Government programs and is also aligned with the Bank?s Country Partnership Strategy (CPS, 2013-2017) with its focus on inclusive growth, jobs, private sector development, sustainability and reduced Greenhouse Gas (GHG) emission intensity.The proposed AF would be processed with the following changes: (i) adjustment of the targets of the results indicators to reflect the proposed scale up and measuring outcomes that would help the Bank track progress towards GHG emission reduction and (ii) closing date extension to May 4, 2019 to ensure synergy, as the AF relates to replication and scaling up of existing project components.
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