16:13 04.06.2015

IFC estimates improved energy efficiency for Ukrainian housing sector at $50 bln

1 min read
IFC estimates improved energy efficiency for Ukrainian housing sector at $50 bln

The International Finance Corporation (IFC) has estimated the need for investment and measures to increase energy efficiency in the housing sector of Ukraine, as of the beginning of May 2015, as costing about $50 billion.

This is according to representatives of the IFC, the State Agency on Energy Efficiency and Energy Saving, and state-controlled Oschadbank (Kyiv) at a joint press conference dedicated to the state support of energy efficiency measures for the public, associations of multi-apartment block co-owners, and housing and construction cooperatives in Kyiv.

"According to our joint with the IFC preliminary estimates, this market was estimated at about UAH 300 billion. After we got first experience, we can now talk about the assessment in the range of $50 billion," Oschadbank Board Chairman Andriy Pyshny said.

He also said that Ukraine currently has around 239,000 multi-apartment buildings, 80% of which need repair and thermal modernization. Pyshny stressed that the program implemented by Oschadbank as one of the participants in the state program to raise public awareness for the introduction of energy efficiency measures through reimbursement for part of a loan is unprecedented in its conditions and extremely important for the energy security of the country.

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