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China - Grant for Preparation of Establishing Measurement and Verification System for Energy Efficiency Project : restructuring (English)

The objective of the Grant for Preparation of Establishing Measurement and Verification System for Energy Efficiency Project is to establish a measurement and verification system for energy savings to prepare for market-based mechanisms, thereby, contributing to the Government of China (GoC's) ambitious energy conservation programs. The request is to extend the project closing date by twelve months, i.e. from June 30, 2014 until June 30, 2015. A request was received from the Ministry of Finance on May 6, 2014. The objective of the Grant is to prepare the Establishing Measurement and Verification System for Energy Efficiency in China Project (the Project). Since the effectiveness of the Grant, the project preparation has faced delay due to: (1) institutional coordination issues between the Ministry of Finance and National Development and Reform Commission; and (2) political uncertainty on energy efficiency trading mechanism. Since December 2013, it has become clear that energy efficiency trading has been listed as a priority in the government's third plenary session, and would become one of the important policies to help China to achieve the energy intensity target. In addition, the Ministry of Finance (MOF) and National Development and Reform Commission (NDRC) have also reached agreement on institutional coordination on the project implementation. As the project has resumed preparation, this request is to extend the project preparation grant period that would allow the on-going preparation to be completed for the Board approval scheduled in March 2015. This is the first restructuring for the preparation grant.

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China - Grant for Preparation of Establishing Measurement and Verification System for Energy Efficiency Project : restructuring (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/416611468216269625/China-Grant-for-Preparation-of-Establishing-Measurement-and-Verification-System-for-Energy-Efficiency-Project-restructuring