To facilitate implementation of CP options that require investments, a special revolving fund to finance CP investments was established by Nordic Environment Finance Corporation (NEFCO) in 1998. The main objective of the fund is to provide soft loans for the implementation of high-priority CP investments with rapid payback that yield environmental and economical benefits ("win-win projects"). The revolving fund is unique and very successfully operating credit line in Lithuania.

In May, 1998 – April 2001, CP projects from 32 Lithuanian companies were presented for NEFCO evaluation. The following sectors have been covered:

• Electronic-electromechanical industry;
• Food industry;
• Chemical industry;
• Textile industry;
• Metal processing industry;
• Municipal services;
• Furniture production.

CP projects presented for NEFCO evaluation covered following areas:

• Efficient use of energy resources (most of the projects);
• Air pollution reduction;
• Reduction of waste amount;
• Reduction of water consumption.

Institute of Environmental Engineering (APINI), Kaunas University of Technology plays a crucial role in CP projects identification, evaluation, implementation and reporting (in Lithuania):

• Prepares a loan application on behalf of the applicant, including assistance in calculation of costs savings and environmental benefits;
• Assists NEFCO in communication with the applicant and preparation of loan documentation, project description and reporting requirements;
• Prepares of project progress and completion reports to be presented as a part of borrower’s disbursement request;
• Assists in project monitoring and supervision including supervision of procurement and project implementation progress as compare to budgets and implementation plan as well as project objectives.

For more information please contact Dr. Zaneta Stasiskiene, Institute of Environmental Engineering (APINI), Kaunas University of Technology, tel: +370 7 300763,
fax: +370 7 209372, E-mail:zastas@apini.ltu.lt