The meeting on “GAF Programme: Energy Efficiency for MSMEs” project funded by the KFW Development Bank was hosted by the R2E2 Fund on July 19, 2017. The Chief Executive Officer of the KFW Development Bank’s East Asia and Caucasus Financial System Development Project Monica Gunder, Yerevan Office Project Coordinator Bella Andreasyan, Director of the German-Armenian Fund /GAF/ Gevorg Tumanyan, Director of Armenia Renewable Resources and Energy Efficiency Fund Armen Melkikyan and the R2E2 Fund engineering technical team leader Hrant Ter-Gabrielyan took part at the meeting.
The participants of the meeting expressed satisfaction on the project progress, in particular, it was noted that about 115 energy audits were performed by the Fund’s specialists within a year, only two of which were negative, and Partner financial institutions (PFIs) provided about Euro 5 million crediting to MSMEs customers (out of Euro 20 million). It was mentioned that SME customers’ are interested in the project progress and suppose that the project will be successful in future.
The parties also discussed possible cooperation between the KFW 
Development Bank, GAF and the R2E2 Fund in the scope of other projects.
Upon completion of the meeting, the participants visited the facilities financed within the project framework to evaluate the results and to hear the customer feedback and recommendations in order to make necessary adjustments to the project implementation process.