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Add to Preferred SourcesIFC, a member of the World Bank Group, and Ukraine’s state-run Energy Efficiency Fund are partnering to improve the energy efficiency of residential buildings and help families save on utility costs.
The organizations signed an agreement that will help channel up to $235 million in grants and loans over the next four years to Ukrainians who want to make their homes more energy efficient. According to official statistics, about 50 percent of residential heating gases in Ukraine are lost annually. Energy efficiency is also considered a key part of the government’s efforts to combat climate change.
Managed by IFC and supported by the European Union (EU) and Germany, the trust fund is designed to help Ukraine reduce its reliance on imported gas while also reducing state subsidies for energy consumption by citizens.
Rolf Behrndt, IFC Practice Manager, World Bank Group Finance and Markets Global Practice, said: “The Energy Efficiency Fund is an innovative tool that will help create a new market for energy efficiency in Ukraine. Partial grants for energy-efficient renovations of residential buildings will encourage residents to invest in such improvements, allowing families to save money on heating while improving comfort.”
Original source: IFC
Published on 09 July 2019