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Saturday, July 10, 2010
ISLAMABAD: Sibtain Fazal Halim, Secretary EAD, H.E. Mr. Daniel Jouanneau, Ambassador of France to Pakistan, and Mr. Yves Terracol, Country Director of the French Development Agency signed a financing agreement of 20 million euros which corresponds to the first tranche of an Energy Efficiency Investment Programme co-financed by the French Development Agency (AFD) and the Asian Development Bank (ADB) and amounting in total 1.1 billion USD.
The first tranche aims at promoting energy efficiency in residential lighting and consists of the free distribution of 30 million compact fluorescent light bulbs (CFL) to the Pakistani households.
This will help address the current energy crisis in Pakistan by reducing peak demand and give impetus to the promotion of energy efficiency by providing sufficient financing to permit a viable transformation of the lighting market.
In order to guarantee project success, the free CFL bulbs will be of excellent quality, with a lifespan of 10,000 hours, and with specific markings so that they cannot be resold on the market.
The expected fall in energy consumption will not only lower the energy bills of both households and public consumers, but will also lead to a reduction in green house gas emissions of 1 million tonnes of CO2 per year, allowing the country to benefit from 21.2 million euros worth of carbon credits over an eight-year period.
A Financing Framework Agreement (FFA), covering the whole Programme was also signed by the Secretary EAD and AFD Country Director. This Programme has been launched by the Government to help tackle the present energy crisis and prevent future crisis.
France helps Pakistan face energy crisis
ISLAMABAD: Sibtain Fazal Halim, Secretary EAD, H.E. Mr. Daniel Jouanneau, Ambassador of France to Pakistan, and Mr. Yves Terracol, Country Director of the French Development Agency signed a financing agreement of 20 million euros which corresponds to the first tranche of an Energy Efficiency Investment Programme co-financed by the French Development Agency (AFD) and the Asian Development Bank (ADB) and amounting in total 1.1 billion USD.
The first tranche aims at promoting energy efficiency in residential lighting and consists of the free distribution of 30 million compact fluorescent light bulbs (CFL) to the Pakistani households.
This will help address the current energy crisis in Pakistan by reducing peak demand and give impetus to the promotion of energy efficiency by providing sufficient financing to permit a viable transformation of the lighting market.
In order to guarantee project success, the free CFL bulbs will be of excellent quality, with a lifespan of 10,000 hours, and with specific markings so that they cannot be resold on the market.
The expected fall in energy consumption will not only lower the energy bills of both households and public consumers, but will also lead to a reduction in green house gas emissions of 1 million tonnes of CO2 per year, allowing the country to benefit from 21.2 million euros worth of carbon credits over an eight-year period.
A Financing Framework Agreement (FFA), covering the whole Programme was also signed by the Secretary EAD and AFD Country Director. This Programme has been launched by the Government to help tackle the present energy crisis and prevent future crisis.
France helps Pakistan face energy crisis