Developing a Model for Financial Analysis of Investment Projects with Environmental Impact.

The purpose of this study aims to make a model in Excel program for calculating the financial performance of an investment project with environmental impact. Thus, it will be determined the financial support and long-term sustainability, financial performance indicators and the reasons for requested the amount of grant assistance. Financial analysis will involve the following steps: estimate project revenues and costs and their implications in terms of cash flow; determine the funding gap for the selected option and subsequently calculate the eligible expenditure that can be financed from grants; defining the system of financing the project and its financial profitability: this is achieved by considering the level of funding that can be obtained, and any other funding sources (national sources, bonds, loans); checking the projected cash flow to ensure the proper functioning of the project; fulfilment of the investment obligations: a project is financially sustainable when it is no risk of running out of cash in the future. An important element is planning cash inflows and outflows. The analysis will demonstrate the ability to cover payments each year by funding sources for the entire reference period of the project. Sustainability occurs if the cumulative net cash flow is positive for all considered years. [ABSTRACT FROM AUTHOR]