Financing Energy Efficiency Projects
Description
Source:
The Law on Environmental Protection Fund (Official Gazette No 72/09 and 101/11), provides the adoption of the Annual Program for Financing Energy Efficiency Projects in 2012. The annual programme has been adopted in first quarter of 2012 (March, 2012).
According to the Annual Program draft, the anticipated amount of funding for energy efficiency raising projects is RSD 1,300,000,000.00. These funds are anticipated to be given as grants.
The Annual Program draft provides that RSD 1,000,000,000 is given to finance the participation of Serbia in the implementation of individual projects, i.e. financing adaptation (reconstruction) projects for objects of public interest, the modernization of heating systems and installation of equipment for energy efficient public lighting. Anticipated fund users in these projects are local self-government units, legal entities founded by the republic, AP, or a local self-government unit. Financing energy efficiency projects shall be made in accordance with the Regulations on conditions to be met by beneficiaries of the Environmental Protection Fund's assets, the conditions and manner of Fund assets allocation, the criteria and standards for evaluating requests for asset allocation and the monitoring of proper use of assets and contractual rights and obligations of the Fund (Official Gazette 16/11)
Based on the annual programme, there will be a public invitation for LSGU and legal entities founded by RS, AP or LSGU to finance energy efficiency raising projects (in absolute terms or in a certain percentage according to the assessed value of competition, within the maximum amount), and the choice (scoring) of projects will be performed in line with the Regulations and conditions of the competition (the Project Selection Board, which will be formed by a special order will constitute a proposal for project selection, while the final selection of projects and the decision on the amount of funds will be performed by the Fund?s Board of Directors). The Fund will conclude individual contracts with the beneficiaries, who will be obliged to select bidders in a public procurement.
The Annual Program draft provides that the financing of participation of Serbia in individual projects (reconstruction/renovation of individual residential buildings, modernization of heating systems, purchase of regulating devices) amounts to RSD 300,000,000. It is anticipated that the beneficiaries of the Fund?s assets are commercial banks (the Fund announces an open invitation to banks for the programme of crediting of natural persons in accordance with the Programme) and that the borrowers are natural persons and that the fund subsidizes the interest rate of commercial banks (the Programme will define the terms of crediting).
The program will provide the obligation of reporting to the Fund on project implementation (the beneficiary shall submit the final report containing an overview of the measures taken, results, an overview of funds spent and an explanation for the plans for deviations from the project). When it comes to projects where the beneficiary of the Fund's assets is a bank (projects for natural persons), there is an obligation of delivering the final report in order to evaluate the effects of the project.
The Environmental Protection Fund will report to the Government on the implementation of the Programme through the Ministry of Environment, Mining and Spatial Planning.
SDGS & Targets
Goal 8
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
8.1
8.1.1
Annual growth rate of real GDP per capita
8.2
Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors
8.2.1
Annual growth rate of real GDP per employed person
8.3
Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services
8.3.1
Proportion of informal employment in total employment, by sector and sex
8.4
Improve progressively, through 2030, global resource efficiency in consumption and production and endeavour to decouple economic growth from environmental degradation, in accordance with the 10-Year Framework of Programmes on Sustainable Consumption and Production, with developed countries taking the lead
8.4.1
Material footprint, material footprint per capita, and material footprint per GDP
8.4.2
Domestic material consumption, domestic material consumption per capita, and domestic material consumption per GDP
8.5
8.5.1
Average hourly earnings of female and male employees, by occupation, age and persons with disabilities
8.5.2
Unemployment rate, by sex, age and persons with disabilities
8.6
8.6.1
Proportion of youth (aged 15-24 years) not in education, employment or training
8.7
Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms
8.7.1
Proportion and number of children aged 5‑17 years engaged in child labour, by sex and age
8.8
Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment
8.8.1
Fatal and non-fatal occupational injuries per 100,000 workers, by sex and migrant status
8.8.2
Level of national compliance with labour rights (freedom of association and collective bargaining) based on International Labour Organization (ILO) textual sources and national legislation, by sex and migrant status
8.9
By 2030, devise and implement policies to promote sustainable tourism that creates jobs and promotes local culture and products
8.9.1
Tourism direct GDP as a proportion of total GDP and in growth rate
8.10
Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all
8.10.1
(a) Number of commercial bank branches per 100,000 adults and (b) number of automated teller machines (ATMs) per 100,000 adults
8.10.2
Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider
8.a
8.a.1
Aid for Trade commitments and disbursements
8.b
By 2020, develop and operationalize a global strategy for youth employment and implement the Global Jobs Pact of the International Labour Organization
8.b.1
Existence of a developed and operationalized national strategy for youth employment, as a distinct strategy or as part of a national employment strategy
SDG 14 targets covered
Deliverables & Timeline
Resources mobilized
Partnership Progress
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