Following is a description of the various support mechanisms that will be implemented during the year 2010 / 2011 and their respective conditions and terms:


Support Program

Evaluation and Selection Criteria

How do we apply for funding?

 

Support Program

The EPF provides financial support through different forms of mechanisms according to the Fund's policies and each project needs. Out of the EPF support programs the following is a description for the ones approved and selected for this year: 

1. Grants

Grants are mainly EPF funds given out to specific parties without the need to be refunded.

1.1 The Applicant

• Governmental Agencies

• NGOs

• Universities and research centers in condition that the projects are applicable and not researches.

1.2 The Project

• The project targets any of the Fund’s environmental priorities

• The project has to achieve revenues sufficient to recollect the investment cost after a specific time period in order to ensure continuity of operation, maintenance, replacement and renewal.

1.3 Financial Information

Grants are offered to non-profit/non-investment type environmental projects on the cost-sharing basis.

1. The maximum grant is according to the presented study.
2. Purchase the equipment and machines.
3. Row materials – training of the technical and administrative staff.
4. Certain tasks which can be agreed upon.

1.4 Method of Payment

2. Soft Loans Program

Soft Loans are loans provided by the EPF with lower interest rate than the market.

2.1 The Applicant

Applicants to the soft loan program include any small or medium sized organization that plans to undertake a project within the Fund’s environmental priorities, provided that the applying organization is legally established, and demonstrates seriousness, sound reputation, and capacity for project execution and long-term project sustainability. 

2.2 The Project

• The project targets any of the Fund’s environmental priorities

• Project has to achieve revenues to achieve long term sustainability and be able to meet loan payments

• Approval of the loan by the lending participating bank

2.3 Financial Information

Costs Covered by the Support Programs

(i.e. Grants, and Soft Loans)

The funds may be used to finance the purchase of equipment and machinery pertaining to the project. The funds may also be used to cover the operating expenses including power supply, raw materials and training of the project’s administrative and technical units. Other expenditures necessary for the project execution may as well be covered by the funds provided by the EPF such as cost for project design, project implementation.. etc (equivalent to a maximum of 50% from the EPF share). Any other expenditure has to be identified and approved first by the EPF according to the internal procedures. This does not include any taxes or customs imposed.
 

Disbursement Procedures for the Support Programs

• Grants are disbursed in accordance with the project implementation time-schedule.

• Disbursement is conditional on fulfillment of all conditions stated in the contract agreement between the project (project holder) and the EPF.

• Funds can be disbursed up to the allocations made in each item. No transfer of cash allocations among the various items is authorized without the EPF’s approval.

• Upon contract agreement and the Fund’s approval, a bank account is opened for the project in one of the banks.

• All receipts and bills pertaining to the various expenditures must be maintained by the project holder. For each payment, the project holder is responsible for submitting to the Fund an original copy of all bills and receipts along with a detailed expenditure statement.

Evaluation and Selection Criteria 

The EPF eligibility criteria - upon which the PAFs are evaluated - are as follows:

• Project targets one or more of the environmental fields that address the Fund’s environmental priorities as mentioned in the environmental priorities.
• Applicant's institution is a legally registered local entity.
• Applicant demonstrates the availability of own-resources to contribute its share of project cost in accordance with financial conditions established for each support mechanism.
• Applicant’s institution/organization is of sound reputation (approval of Social Affairs for NGOs, and a no objection of the lending bank for loans).
• Absence of any restrictions such as problems related to the applicant’s current activities or relationship with banks (if applicable).
• Project ensures sustainability after receiving the loan or the grant.
• Commitment to disburse the funds on the allocated items.
• The project data has to include a list of job opportunities which will be provided by the project implementation.

How do we apply for funding? 

1. The application form and required documents are available at EPF Office in the fifth floor of EEAA Building in Maadi.
2. Application form is also available at the EPF site.
3. Application of either grant or loan can be submitted to Projects Department at EPF.
4. Projects Department will review the application according to its terms.
5. In case of illegibility, EPF will not approve the project.
6. In the case of the loans, customer has to bring a non-Objection letter from his bank since EPF considers the bank as a shareholder in the project.
7. The evaluation of the project will be done by the projects Department. Then, it will be submitted to the EPF Committee to have the final Decision and provide the financial aid.