Donor: EU – PHARE
Budget: 1,950,000 EUR

Project Description:

The Romanian Government benefits from various plans and actions aimed to assist the country in meeting the criteria for EU membership, to implement the transposed environmental legislation and to cooperate in executing the Environmental Action Programme for CEE. These plans and programmes are somehow deficient to the extent that they do not account for a sound financing strategy. In order to solve there problems, the project was expected to perform a thorough cost assessment and develop a consequent financing strategy.

The objectives of the project included:

  • To assesss the costs associated with the implementation of EU environmental directives and evaluation of the financial needs for this implementation;
  • Development of a cost assessment and financial analysis for the implementation of EU environmental directives;
  • Elaboration of an environmental financing strategy with sector and regional priorities, analysis of possible funding sources and preparation of feasible environmental investment projects;
  • Analysis of cost effectiveness of the project, implementation of CBA, financial analysis and cash flows;
  • To provide training related to the activities of the project to the Ministry of Agriculture, Forests, Waters and Environment (MoAFWE) personnel.

Activities carried out included:

  • Review of previous project results and evaluation of financial needs;
  • Development of a detailed cost assessment and regional distribution of required investments including cost benefit analysis, financial analysis and cash flow analysis;
  • Elaboration of an environmental financing strategy and investment plan (preparation and support in preparation of investment projects);
  • Updating the National Environmental Action Plan and reviewing the procedures required to access different financing sources;
  • Training of all relevant staff from the MoAFWE and final awareness seminar.