Environment in emerging and transition economies

Financing Water and Environment Infrastructure: The Case of Eastern Europe, the Caucasus and Central Asia


Table of Contents | How to Obtain this Publication | Related Event

Publication date:
13 Feb 2006

ISBN:  9264036075 

Countries in Eastern Europe, Caucasus and Central Asia region (EECCA) currently are at an environmental crossroad: the current environmental situation is dire, and challenges are mounting, but there are also new opportunities.

In this perspective, environmental finance is one priority area. Environment departments need to improve their performance in investment planning and financial management in order to make the best use of available public funds and to be able to leverage additional resources from donors, IFIs and the private sector. More skills and incentives are needed at both national and local levels to mobilize additional financing for environmental purposes.

Based on the work done under the auspices of the EAP Task Force, the book provides a comprehensive and consistent picture of domestic and foreign sources of finance for the environment in EECCA (including Kazakhstan, the Russian Federation and Ukraine), and explores policy recommendations on how to make the best possible use of available finance, and on how to attract additional finance in transition economies.


Table of Contents

Executive Summary

Chapter 1. The Background of Environmental Finance in Eastern Europe, the Caucasus, and Central Asia (EECCA)
Environmental Challenges
Economic Trends
Trends in Environmentally Related Expenditure
The Need for Sound Environmental Finance Strategies
Chapter 2. The Environmental Finance Challenge and Domestic Sources of Finance
Priority of Environment in Public Sector Financing
Fiscal Decentralisation and Financial Management in Municipalities -The Contribution of Households and Industries
Financial Sector Involvement in Environmental Financing
Chapter 3. The Environmental Finance Challenge, and Foreign Sources of Finance
Levels of Environmental Foreign Official Finance to EECCA
Private Financial Flows Related to Environment
Innovative Approaches: Debt-for-Environment Swaps
Innovative Approaches: Carbon Funding
Chapter 4. Conclusions and Recommendations for Stakeholders. Ideas for Partnerships
Recommendations for Action at the Domestic Level
The Role of International Co-operation
Annex 1. Summary of Key Environmental Challenges in EECCA as Reported in the Kiev Assessment
Annex 2. Macro Economic Indicators for EECCA Countries
Annex 3. Costs of the Millennium Development Goals for Water Supply and Sanitation in EECCA
Annex 4. Environmental Financing Strategies
Annex 5. Foreign Direct Investment in EECCA and Selected CEE Countries
Annex 6. Preparation for a Debt for Environment Swap (DFES) in Georgia
Annex 7. Good Practices of Public Environmental Expenditure Management


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Related Event

Yerevan Conference, November 2005, Yerevan, Armenia