The Eco-Fund activities are implemented in cooperation with the Ministry of Ecology, Spatial Planning and Urbanism, the Ministry of Finance and Social Welfare, the Ministry of Economic Development, the Ministry of Capital Investments, other state administration bodies, local self-government units, professional, scientific and financial institutions, as well as financial institutions and international organizations.
The Company activity refers to financing the preparation, implementation and development of programs, projects and similar activities in the field of preservation, sustainable use, protection and improvement of the environment, energy efficiency and the use of renewable sources of energy at the state and local levels, as follows:
- implementation of national strategic planning documents in the field of environmental protection, sustainable development and energy efficiency;
- mediation related to the financing of environmental protection, energy efficiency and renewable energy sources from loans, donations and aid, instruments, programs and funds of the European Union, the United Nations and international organizations, from foreign investments for environmental protection, financial institutions and domestic and foreign legal and natural persons;
- maintaining a database of programs, projects and similar activities in the field of environmental protection and energy efficiency, and the necessary and available financial resources for their implementation;
- establishing and achieving cooperation with international and domestic financial institutions and other legal and natural persons, in order to finance environmental protection and energy efficiency, in accordance with national strategic planning documents in the field of environmental protection, energy efficiency and renewable sources of energy;
- and other activities referring to the financing of environmental protection and energy efficiency.
The Mission of the Eco-Fund is to collect and invest funds in order to develop a sustainable society in Montenegro, based on the efficient use of all natural resources and low-carbon development.
The Vision of the Eco-Fund is to position itself as a leading professional and financial institution in the field of environmental protection and sustainable development in Montenegro.
Eco-Fund defines the following priorities in order to fulfill its Mission and Vision:
- Securing the income of the Eco-Fund, co-financing of projects, programmes and other activities
- Co-financing of projects, programs and other activities within the scope of work of the Eco-Fund
- Implementation of the Decree on operations or activities emitting greenhouse gases for which a greenhouse gas emission permit is issued (hereinafter: the Emissions Trading Decree)
- Raising Institutional Visibility
Departments
Department for energy efficiency and renewable energy sources project
Energy efficiency is the most effective way to achieve the goals of sustainable development, given that higher efficiency contributes to reducing the emission of harmful gases into the environment, greater industrial competitiveness and increasing the security of energy supply. learn more
Department for Environmental Protection and Climate Change projects
With its mission and vision, Eco-Fund is committed to socially responsible business and improvement of the environment, and therefore to raising the quality of life of citizens.
The role of the Department Environmental Protection and Climate Change project is to prepare, implement and monitor projects, programs and activities of all components of the environment and the fight against climate change. In performing its activities, the User Service applies the principle of transparency to the public when awarding grants (subsidies), objectivity and responsibility when selecting funds and dedicated monitoring thereof, with the application of recognized standards of good business practice. learn more
Department for implementation and development of international and partnership projects
Department for the Implementation and Development of International and Partner Projects is a new Department within the Eco-Fund formed at the beginning of 2022 in order to coordinate the development, preparation and implementation of international and national partner projects. It is also responsible for the preparation, development and implementation of support mechanisms through grants, loans, subsidies, guarantees, as well as regular monitoring and research of opportunities to collect funds needed for development programs and international and national partner projects. learn more
Learn more at the Environmental Protection Fund – ECO Fund.