Creation of Fund for Financing Energy Efficiency Measures on the Principles of “Revolving Fund” on the Basis of Condominium Association
In the present conditions, condominiums have limited funds, and their taking out credit funds is not a regular practice. Therefore, it is necessary to provide the condominiums with financial resources affordable from the viewpoint of its cost, and from the viewpoint of the organizational simplicity of obtaining funds. This financial instrument may be a targeted fund for the financing of the energy efficiency measures – a “revolving fund” created by the condominium association, and the funds of which are provided to the members of this condominium association.
Revolving – automatically renewable (from Latin “revolve” – to revolve).
Money from this fund is provided to the condominium association members on the terms of a free time loan. The "revolving mechanism" for the functioning of the fund is ensured as follows: new loans to the condominium association members are provided from the repayment of previous loans received by the condominiums from the fund. Therefore, the permanent reinvestment of the projects accumulates new resources at the expense of the money repaid to the fund, and also as a result of the savings received from implementing the energy efficiency measures.
Principle of the “revolving fund” operation – providing new loans at the expense (and according to) the repayment of previously given loans.
We offer to your attention the paper “Concept for Creation of the Fund for Financing of Energy Efficiency Measures on the Principle of “Revolving Fund” on the Basis of the Condominium Association and Regulation on the Fund for Financing of Energy Efficiency Measures by a Condominium Association” developed by the USAID Municipal Energy Reform Project. You can use these documents unrestrictedly and modify them.
We offer to your attention the paper Concept for Creation of the Fund for Financing of Energy Efficiency Measures on the Principle of “Revolving Fund” on the Basis of the Condominium Association and Regulation on the Fund for Financing of Energy Efficiency Measures by a Condominium Association, developed by the USAID Municipal Energy Reform Project. You can use these documents unrestrictedly and modify them.
CONCEPT FOR CREATION OF THE FUND FOR FINANCING OF ENERGY EFFICIENCY MEASURES ON THE PRINCIPLE OF “REVOLVING FUND” ON THE BASIS OF THE CONDOMINIUM ASSOCIATION
REGULATION ON THE FUND FOR FINANCING OF ENERGY EFFICIENCY MEASURES BY A CONDOMINIUM ASSOCIATION
