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EIB to allocate €300 million to Ukraine for increasing its energy efficiency

Source : 112 Ukraine

2,5 million of Ukrainians will use the results of the project
14:33, 3 June 2020

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The European Investment Bank (EIB) and the Ministry for Regional Development, Construction and Public Housing and Utilities of Ukraine concluded the agreement on the cooperation in the sphere of the provision of the consulting services for preparation of the projects on the energy efficiency of public buildings in Ukraine as the ministry reported.

“EPTATF grant (Eastern Partnership Technical Assistance Trust Fund, - 112.international) facilitates the close cooperation between EIB and Ukraine in the increase of energy efficiency of the public buildings in the country…The project will improve the living conditions of the citizens of Ukraine, shape the sufficient economy of energy with a positive influence on climate change and reduce expenses for heating and dependence of Ukraine on energy import,” EIB Head of Representation for Ukraine Jean-Erik de Zagon said.

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

It is expected that the project on the energy efficiency of the public building in Ukraine will be supported by €300 million credit from the EIB and grant contributions of the Eastern Europe Energy Efficiency and Environment Partnership (E5P Fund) and EU in addition to consulting services.

The fund will provide 150,000 EUR to support the implementation of this agreement.

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

The project will increase the energy efficiency of 1,000 buildings, most kindergartens, hospitals, and schools. It will help to prevent the emission of over 1 million tons of carbon dioxide. 2,5 million of Ukrainians will use the results of the project.

As we reported, European Investment Bank plans to provide Ukraine with 40 million euros. These funds will be used in order to take the necessary measures in overcoming the spread of coronavirus in Ukraine.

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