The cabinet of ministers today approved the Regulation on the way of management of the National Fund for Environment (FNM), meant exclusively for financing projects in the sectors of environmental protection, climate changes and sustainable management of natural resources.

The document establishes the way of management of the National Fund for Environment, including the setting up, organization, work and management of financial means. Also, the Regulation sees the way of identification, assessment, selection, approval, contracting and monitoring of the implementation of projects in the environmental protection field, as well as of post-implementation evaluation.    

The principles of financing of projects within the National Fund for Environment are:

Efficiency – use of financial resources for the financing of programmes and projects in the environmental protection field, carried out based on cost-efficiency estimations.   

Equality – access to the FNM’s financial resources is given to all eligible legal entities and the way of financing of projects in the environmental protection sector and the criteria of eligibility are enforced non-discriminatory for all applicants.

Sustainability – financing of programmes and projects in the environmental protection field is assessed prom the viewpoint of the social, economic and environmental impact.  

Transparency – the activity of financing of programmes and projects in the environmental protection sector is carried out within transparent and participatory processes, based on approved and published procedures. 

The National Fund for Environment will be managed by the supervision committee of the public institution, National Office of Implementation of Projects in the Environment Sector.