Ukraine Receive Euro 400M Energy Efficiency Funding

THE European Investment Bank (EIB) is lending €400 million to finance projects in Ukraine focussing on energy efficiency and other sustainable projects.

EIB funds will support some 25 to 40 projects fostering substantial improvements in energy efficiency, including district heating, energy efficiency in public buildings, municipal lighting and will contribute to Ukraine’s energy security.

EIB Vice-President László Baranyay, responsible for lending operations in Ukraine, commented: “The current project is in line with the commitment of the EU Bank to support Ukraine and its people. Modern and reliable municipal infrastructure will contribute to the increase of the quality of life of people living in Ukrainian cities. It will help to save energy, provide better and more economical services and help to protect environment”.

The final beneficiaries of the funding will be central, regional or local government agencies, public utilities and municipalities providing public services in Ukraine.

The Bank’s loan will finance up to 50% of total costs of the investment programme. The remaining financing will be covered by parallel financing from other international financing institutions, investment grants and own funds of final beneficiaries.

Picture of Kiev by Yune reproduced under CCL.

Monday 27th July 2015

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