EU to provide 54 million euro to support energy efficiency in Ukraine

The tranche will be provided within new agreement on the support of Ukraine's energy efficiency
15:31, 17 December 2018

Open source

The European Union will provide the second tranche of the financial aid in the sum of 54 million euro to Ukraine for the support of Energy Efficiency Fund. The proper financial Agreement between Ukraine’s representative office and the European Commission was signed on December 17 in Brussels as Ministry for Regional Development, Building and Housing of Ukraine reported.

“It is the evidence of the high trust of our European partners and progress of the reform of the energy efficiency, which we have been implementing for three years, fulfilling the European directives on the energy efficiency. It is the first such large-scale project of the cooperation with the EU in the region,” Hennadiy Zubko, the Regional Development, Building and Housing Minister of Ukraine reported.

Related: Ukraine and UAE to cooperate in energy efficiency, clean energy and recycling

He also noted that the funds are added to the first tranche in the sum of 50 million euro, which Ukraine has already received from the EU for the fund’s work in June.  

It is noted that the money will be sent to the Multi-donor fund, managed by the International Finance Corporation.

Related: Regional Affairs Ministry introduces mandatory energy efficiency standards for education establishments

The EU aid will aim, particularly, for the implementation of the events on the energy efficiency and efficient use of the energy resources.

Related: Government launches financing of energy efficiency loans

The agreement on the financing of the event “Program of support of energy efficiency in Ukraine (EE4U-II) was signed within the fifth session of the Association Council between Ukraine and the EU by Vice Prime Minister of Ukraine Hennadiy Zubko and Johannes Hahn, the European Commissioner for Enlargement and European Neighbourhood Policy.

Earlier we reported that the European Commission has approved the issuance of 37 million Euros to fund the 2018 Program of Technical Cooperation

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