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The Environmental Protection Agency (EPA) released implementation framework for its Greenhouse Gas Reduction Fund (GGRF), a $27 billion competitive grant program. Certain non-profits, potentially including credit union service organizations, will be eligible for grants, including $6 billion in funding to support the capacity of community development financial institutions (CDFIs), minority depository institutions, credit unions, and others to finance cost-saving and pollution-reducing clean technology projects.
Publication of the formal Notices of Funding Opportunities are expected as early as June.
The framework builds on the initial guidance EPA released in February and includes detailed descriptions of key parameters and anticipated application components for the grant competitions EPA expects to administer under the GGRF program.
CUNA President/CEO Jim Nussle previous stated “Credit unions and CDFIs are the perfect partner to leverage funds and disburse competitive grants to these communities efficiently and effectively.” in response to the February release.
The framework also provides a summary of the statutory language authorizing the GGRF, a summary of GGRF stakeholder engagement to date, initial guidance on the applicability of certain federal grant requirements to this program, and a resource guide for prospective applicants.
The EPA has scheduled six virtual listening sessions starting the week of April 24. Technical feedback and comments on the competition descriptions can be submitted to the EPA by May 12.