Rivne is the second oblast centre to join the EECU Revolving Fund of Cities Programme!

photo: NGO Ресурсний центр підтримки ОСББ Рівненщини

At the end of December, Rivne City Council decided to become a participant in the EECU RFC, making the city the second regional centre to participate in the Programme after Lviv. Rivne's deposit to the Revolving Fund will amount to UAH 2 million, which the community will use for thermal modernisation and energy efficiency projects.

Thus, in 2023, 5 more communities joined the EECU Revolving Fund of Cities Programme. In total, as of January 2024, 10 EECU member communities are participating in the Programme: Lviv, Rivne, Dubove, Novovolynsk, Novoyavorivsk, Novohrodivka, Kovel, Kostopil, Kramatorsk and Kamianets-Podilskyi.

The EECU Revolving Fund of Cities uses a mechanism of repayable financial support, whereby the community's budget funds are transferred to designated legal entities as a free repayable loan through EECU mediation. In this way, funds can be used by many borrowers in a certain order. 

Advantages of the EECU RFC:

• The use of repayable financial assistance from the EECU RFC is more efficient than one-time (non-repayable) financial support from the local budget.
• The use of the RFC reduces corruption risks in the use of local budget funds, as ALL applicants will be able to use the allocated resource in the order of priority.
• The RFC makes it easier for condominiums to start the Energodim programme of the EEF, and the city can redirect RFC funds to other sustainable energy and climate projects at any time.

For more information on the EECU Revolving Fund mechanism, please follow the link.

For more information on the use of the EECU RFC, please contact the EECU Executive Directorate (office@enefcities.org.ua tel. +38 032 2455 262) or the Programme Manager Serhiy Kosharuk (skosharuk@enefcities.org.ua tel. +38 050 3782 013).