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Norway Grants pledge EUR 26 million for green projects

Published

July 9, 2015

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Published:

July 9, 2015

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Romania’s private enterprises and non-governmental organizations will be awarded with funds for ongoing projects by the Green Industry Innovation Programme, funded by Norway, Business Review’s portal reported. Out of 53 entities, 32 are partnerships by companies or NGOs from both countries. Norway Grants allocates EUR 26 million for job creation, reduction of carbon-dioxide emissions, energy efficiency, waste collection and treatment, new green products and more, the organization’s officials said. The aim is to increase the competitiveness of enterprises and raise public awareness on the advantages of green production and green products and services.

Total amount disbursed through June for projects under the programme is EUR 5.9 million (25.18%) for large individual projects and EUR 905,905 (29.5%) for small grants scheme. Several of the projects under implementation are from the waste sector. This can be explained by the current market potential of unexploited selective waste collection and recycling segments.

Most entities receiving support are from the small and middle segment, indicating interest in obtaining non-reimbursable aid is correlated with limited capacity to access capital markets, the report said. More than 50% of projects under implementation relate to the improvements of processing facilities, by purchasing equipment that will increase productivity and, at the same time, optimizing the expenses for raw material, utilities, CO2 emissions and, most importantly, creating 470 new jobs, the magazine said.

Green Industry Innovation Programme Romania is designed to contribute to the reduction of economic and social disparities in the European Economic Area and to strengthen bilateral relations. It is managed by Innovation Norway, a public entity under the Norwegian Ministry of Trade and Industry.

A EUR 4 million project designed to collect recyclable waste from households was implemented by Total Waste Management and co-financed with grants of EUR 1.4 million from the Government of Norway.

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