Construction and demolition waste production in the EU
In 2012, total amount of the EU construction waste in EU reached 821 160 000 tones and, as a result, construction and demolition sector in EU produced 32% of EU waste. It should be also noted that the number of C&D wastes increases in the EU member states and it is expected that in 2020 the amount of waste generated by the construction sector will reach more than 500 million tonnes1 . Therefore, the market related to the construction and demolition waste is seen as the most attractive in comparison with markets aimed at collection or recovery of other types of waste2 .
The majority of C&D waste is produced in France, Germany, Netherland and United Kingdom however the group of important producers represent also Italy, Spain and Belgium. In 2011, revenues of recycling of construction and demolition waste in Europe reached $61 billion3. (more…)
Community Investment Program
The Community Investment Program (CIP) supports a broad spectrum of programs and services by providing grant funding and agreements to community groups and non-profit organizations responsible for:
• Delivering various recreational, cultural and social programs and services.
• Developing and operating community facilities.
• Organizing community events. (more…)
Investment of Bond Proceeds
When governments issue bonds they deposit the bond proceeds (and occasionally other monies) in various funds, which may include a construction fund, debt service fund, capitalized interest fund, debt service reserve, or in the case of a refunding, an escrow fund. In some cases these funds may be held by a third party trustee. Monies allocated to these funds usually are invested until needed. The investment strategy for each fund will depend, in part, on federal or state statutes and regulations governing the types of instruments permitted to be used for the investments, the arbitrage yield permitted for the fund, requirements from rating agencies and/or credit enhancement providers, and the anticipated drawdown of bond proceeds. Additionally, each of these funds will have different investment objectives, so there are many factors that must be considered by the government when selecting the investment instrument. Governments need to be mindful that cash flow analyses are critical components of the process and are useful in reducing the possibility of negative arbitrage that may occur. Furthermore, the presence or lack of arbitrage could affect the entire structure and sizing of the debt financing.