State-controlled Ukrgasbank (Kyiv) signed a loan agreement for UAH 7.2 million (EUR200,000) with YASNO Energy Efficiency as part of a joint project with the Loan Guarantee Fund, established by the United Nations Industrial Development Organization (UNIDO), UNIDO, for the implementation of a standard for energy management systems in Ukrainian industry, reported on the website of the financial institution.

"The proceeds of the loan will be used by YASNO EE to implement energy-saving measures at one of Ukraine's largest enterprises producing raw materials for the metallurgical industry. This will enable the enterprise to reduce annual energy consumption by over 1 million kWh and save up to 71% of energy resources," the report says.

As reported, DTEK energy holding, created in 2005 to manage the energy assets of Rinat Akhmetov’s SCM Group, launched a retail energy brand - YASNO, under which it supplies electricity to 3.5 million Ukrainians.

“We hope that cooperation with UNIDO in this format today will allow initiating the implementation of more extensive projects and attracting the attention of international ESCOs implementing them in Ukraine," stated Tetiana Griaznova, the CFO of YASNO.

Ukrgasbank, together with the UNIDO project, launched the Loan Guarantee Fund for energy efficiency in Industry in 2020, which initially allowed industrial enterprises to receive up to $150,000 (or the equivalent in hryvnia or euro) for energy efficiency measures. The mechanism is structured by providing a loan repayment guarantee. The Loan Guarantee Fund uses the Irish CITI Bank to confirm the guarantee for Ukrgasbank. Recently, the conditions were updated and the work of the fund was extended until the end of 2025.