Ukraine get $200 Million Energy Efficiency Boost

The State Export-Import Bank of Ukraine JSC has borrowed $200 million from the World Bank to improve energy efficiency across the country.

Bloomberg report that World Bank Country Director for Ukraine, Belarus and Moldova, Martin Raiser, said in an e-mailed statement.:

“To reduce Ukraine’s energy intensity by 50 percent by 2030, as the Government plans, will require around $20 billion in investments. These would easily pay for themselves through improved competitiveness, reduced import needs and greater energy security.”

Ukraine currently relies on Russian imported natural gas for over 50 percent of its energy needs, report Bloomberg. According to Ukraine’s Energy and Coal Ministe,r Yuriy Boyko reported that the country intends to buy 40 billion cubic meters of gas this year alone - underlining the need for energy efficiency.

Picture of Santa Sofia Cathedral Kiev by ezioma

Friday 10th June 2011

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