Project Name:
	Financial Engineering for Cleaner Production, Energy Efficiency and Renewables in Croatia
Project Period: January 2004. to March 2005.
Project budget (second phase): 122.000,- EUR
Donor information: Donor name Contribution Currency Norwegian Min. of Foreign Affairs 997.400,- NOK Intoduction: Demand for economic development through increased energy efficiency, utilization of renewable energy and environmental improvements is well known and accepted also in Croatia. National and international financial institutions are showing an increasing interest for environmental and energy efficiency projects, leading to more funds gradually being available for investments. The financial institutions, however, are complaining about the lack of bankable projects. The local know-how and experience from development of appropriate Business Plans is often not in compliance with the demands from the Financial Institutions. Project partners: ENSI - Energy Saving International- ENSI (www.ensi.no) in cooperation with REC Country Office Croatia conducts the training program on financial engineering on cleaner production, energy efficiency and renewables in Croatia. ENSI is consultancy company with more than 10 years of experience with energy efficiency, renewable energy and environmental programmes and projects in 18 countries of Central and Eastern Europe and New Independent States. Project objectives: The primary target is to build capacity and enable Croatian companies and organizations to develop, arrange financing for, implement and maintain cleaner production and energy efficiency measures and hence contribute to sustainable development. The financial engineering in this training program implies the development of business plans (i.e. investment studies) that belong to basic loan application documents. The outcome of the programme is business plans for real, concrete projects defined by the Croatian side. Specific project objectives are to: Develop the first version of a business plan for their project Present their business plan to a financial institution Collaborate with the Financial Institution on further development resulting in a complete Business Plan in accordance with the Financial Institution's specific requirements. This programme is split in two subsequent phases: Phase 1 is the start up of the programme with identification of potential training beneficiaries, including information seminar to create awareness about training methodologies and to disseminate results from similar programmes completed earlier. Phase 2 is the full combined capacity building and project development programme. 20 experts and consultants from 8-10 companies will be selected to participate in the programme. Project activities: After the informational seminar that was held on May 27, 2004 in Zagreb (agenda), and based on the interest and capacity of individual organizations to participate in the training, 10 project sponsors were chosen as participants in further interactive training. The interactive training aimed at capacity building in business plan development is dated from September 2004. to March 2005. The capacity will be built in development of business plans of commercial environmental and energy efficiency projects.The program is structured in 3 workshops. In the period between the workshops, the participants develop first draft of concrete business plans, that are presented, discussed and improved on each subsequent workshop. Activity Date Place Training Session 1 12 - 14 Oct 2004 Zagreb Training Session 2 23 - 25 Nov 2004 Zagreb Training Session 3 25 - 27 Jan 2005 Zagreb Contact person: Ms. Željka Medven, Project Manager, REC CO Croatia