The UNFCCC Board provides loans to fund projects from the very beginning to the very end. The current loan scheme is running out 30 September 2012, so we will not be able to apply for a loan, but being in the second round, the scheme might as well be prolonged again.
However, our India projects are not feasible for the loans provided, as they fail to meet the required criteria:
- Projects must have a high probability of registration with the UNFCCC and generating at least 7,500 CERs/year for projects in Least Developed Countries (LDCs), and 15,000 CERs/year in non-LDCs
- Projects must be in host countries with less than 10 CDM project activities registered with the UNFCCC (as of 1 January of the year of submission).
- Project documentation must be developed by an experienced CDM consultant
- The loan must not “crowd out” other obvious funding for the development costs (like donor funding or funding by an already identified buyer of CERs from the project)