09:53 28.12.2018

Kyiv city to receive $100 mln from intl donors for modernization of heat and energy complex

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Kyiv city to receive $100 mln from intl donors for modernization of heat and energy complex

 Kyiv Mayor Vitali Klitschko, municipal enterprise Kyivteploenergo and international partners – the U.S. Agency for International Development (USAID), the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) – have signed a memorandum on the development of the heat and energy complex, under which Kyiv city will receive $100 million.

The press service of the Kyiv City Administration reported on Thursday that the document envisages international cooperation in modernization and development of the Kyiv's heat and energy complex.

According to the report, under the memorandum, it is planned to build up an interim financial package of $100 million, which will finance the priority work on modernization.

"Kyiv lays the foundation for international cooperation in the modernization and development of the heat and power complex of the city. We are designing a plan to turn Kyivteploenergo into a European-level company that will provide high-quality services," Klitschko said.

Klitschko said that the city is ready to overcome possible risks and barriers, given the imperfection of the current legislation and the difficult situation in the sphere of the country's power system.

Foreign Service Officer at the USAID Farhad Ghaussy said that the United States actively supports the creation of an adequate level of Kyiv's energy security.

He said that the USAID is actively cooperating with Kyiv city. It will be very difficult for the city to carry out modernization of the heat and power complex, but thanks to the assembled team it would be possible to transform it, he added.

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