Through this project the REC worked to improve the capacity of small and medium size municipalities in two SEE pilot countries - Romania and Serbia and Montenegro - to identify, formulate, and prepare sustainable investment projects that can attract financing and meet local environmental priorities and objectives. The project was addressed to local project proponents (i.e. local and regional authorities, public utilities, public/private enterprises). It had four main phases: 1) Inception phase for investigation of the environmental financing market for municipalities in SEE countries; 2) Interactive workshops on Project Cycle Management, Logical Framework Approach, feasibility analysis and other concepts and tools for the successful preparation of municipal environmental investment projects; 3) Development of project preparation teams of local governments and local consulting companies; and 4) Preparation of the environmental investment projects by the project teams. The project was designed as a pilot project which can be extended to other countries of the SEE region based upon lessons learned and the experience of the local and international project teams. The project culminated with the preparation of a final report to document the experience and recommend mechanisms to further support preparation of high-quality local environmental investment projects in SEE. The project received financial support from the Netherlands Ministry of Foreign Affairs within the initial Regional Environmental Reconstruction Programme “Quick Start” package. Download the project final report, Investing in the Local Environment: Assisting Municipalities in South Eastern Europe to Access Environmental Financing (350-KByte 48-page PDF file).

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