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LITHUANIA, MANAGEMENT SERVICE FOR THE ECP COMMERCIAL FUND
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11/10/2005 |
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The Global Environment Facility (GEF) has extended a grant of USD 3 million to Vilnius City Municipality (VCM) as support for the capitalization of a credit facility called “Energy Conservation Program Commercial Fund”.
Grontmij | Carl Bro, a|s ECP Commercial Fund Manager, shall act as an agent for Vilnius City Municipality for the purpose of:
- Carrying out technical, financial and economical assessment of investment proposals;
- Preparing contract documents to be signed between Fund Manager and the homeowners for the implementation of investments on a commercial basis;
- Carrying out procurement of goods, installation services and works necessary to implement the investments on behalf of VCM;
- Managing, monitoring, and supervising the implementation of the investments projects;
- Executing a marketing program;
- Operating the ECP Commercial Fund in a financially prudent and sustainable manner, systematically monitoring the credit portfolio and status of credit repayment by every purchaser, and realizing a sufficient return on the investments made to enable the Fund’s operation on an ongoing basis.
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