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Ukraine to receive €4.1 mln. for climate change fight from EBRD
19:06, 17 February 2016
Ukraine to receive €4.1 mln. for climate change fight from EBRD

FINTECC program will help Ukrainian companies to modernize climate technoligies

19:06, 17 February 2016

Reuters

Ukraine joined the EBRD FINTECC program (Finance and Technology Transfer Centre for Climate Change) which main purpose is the technology transfer in the field of climate change mitigation and adaptation, reported the EBRD press service.

FINTECC program is currently being successfully implemented in 14 countries in which the EBRD invests. It is scheduled for three years and is supported by Global Environment Facility grant funding in amount of $ 7 million and by the EU Neighborhood Investment Fund in amount of € 4 million.

Earlier Turkey decided to grant $50 million credit to Ukraine

The program will help Ukrainian companies to invest in the best available technology, leading to greenhouse gas emissions reduction. In particular, it can be an effective energy, materials and water use technology as well as renewable energy technologies which are not very common in Ukraine.

Local EBRD customers who are planning to introduce modern climate technology can get an access to the FINTEC program resources. Due to this program, local companies will be provided by grants of up to 25% of the cost of new technologies, but not more than $ 1 million.

The head of the energy, climate and transport sector of the EU Delegation in Ukraine Walter Tretton said: “I welcome the launch of FINTECC program in Ukraine. It will help Ukrainian companies to modernize and gain access to advanced technologies that reduce greenhouse gas emissions. The European Union provides the grant for this project in amount of€4,1 million.”

Related: The UN Climate Conference kicked off in Paris

Related: IMF may grant next loan to Ukraine in the near future, - Lagarde

Related: Poland grant 230 thousand EUR for medicines for Ukrainian IDPs

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