On 10th May 2023 Nadya Dankinova – executive director of Fund FLAG and Abel Mascharenas – president of the IFRRU 2020 management structure, acting as the Fund of the Fund in Portugal, signed a Protocol for Cooperation between the two organizations. The signing of the Cooperation protocol aims to promote the sharing of knowledge between FLAG and IFRRU 2020 on financial instruments for urban regeneration and energy efficiency, which includes sharing experience in managing different sources of funding, state aid and public procurement, forms of coordination with other interested parties, marketing and communication strategy.
IFRRU 2020 (Instrumento Financeiro para a Reabilitação e Revitalização Urbanas) was created in July 2015 as a Fund of Funds of Portugal, uniting resources from 8 regional operational programs. The financing of the eight programs was supplemented by financial resource from the European Investment Bank, the Development Bank of the Council of Europe (CEB) and the national budget. By the end of 2022 IFRRU has 440 signed contracts, corresponding to 1.428 million euros of investments for comprehensive rehabilitation of buildings and improvement of their energy characteristics.
The Cooperation protocol between the two organizations, which have a similar mission to support sustainable urban and regional development, is a result of a working visit for exchanging experience and good practices for the implementation of energy efficiency projects under the LIFE-PDA approved FLAG-FICET project.
The project "FLAG - Financial instrument for the transition to clean energy" (FLAG FICET), financed by LIFE-2021-CET-PDA, aims to develop, demonstrate and popularize an innovative financial instrument structured within the framework of Fund FLAG, which will provide support for municipal investments for clean energy transition in cooperation and consultation with a large number of interested parties.
