In the framework of Georgian-Norwegian
co-operation programme “Energy Efficiency and Cleaner
Production in Industry”, in 2003, was founded Revolving Fund
(RF) for financing energy saving and environmental
The aim of Revolving fund is to support
realization of commercial EE&CP projects in industrial
enterprises and the repayments to the Fund will be used as
loans for implemented new CP and EE measures in the future.
For attaining this purpose RF will:
a) Give a loan for investigation under
2000 USD cost projects (micro loan);
b) “Project Financing” from the 2000USD
and up word’s.
It was decided that the sum of a loan
will fixed in USD, but repayment will be in local currency,
using exchange rate of National bank for the transaction
day. Bank charges and other expenses should be paid by the
borrower. For starting project, it’s not necessary to rent
movable or immovable properties of the company and
equipment, which will be bought from RF, will stay in EEC
property, until the full repayment of loan and its interest.
Also, EEC will be a general contractor for planning and
implementing projects. For these services the applicant
company should pay to the Centre.
Nine companies out of 14 participant of EE&CP program used
RF and received small loans for implementation of EE&CP
measures. For today’s information companies saved 311 698