15:08 09.07.2019

Energy Efficiency Fund with partners will issue $235 mln for 6,000 unions of multi-apartment block co-owners in four years

1 min read
Energy Efficiency Fund with partners will issue $235 mln for 6,000 unions of multi-apartment block co-owners in four years

The Energy Efficiency Fund has signed an agreement with the International Finance Corporation (IFC), under which the partners will allocate $235 million in the form of grants and loans for the energy-efficient modernization of 6,000 unions of multi-apartment block co-owners over four years.

"The agreement is the legal basis for the full launch of the fund and the start of financing energy efficiency programs in multi-apartment houses created by the unions of multi-apartment block co-owners. Today's signing is the next important step towards improving energy efficiency," Minister of Regional Development, Construction, Housing and Utilities Services of Ukraine Hennadiy Zubko said.

According to the press service of the fund, 6,000 unions of multi-apartment block co-owners will take part in the program. In addition to the fund's resources, the program will be financed by a trust fund of EUR100 million, managed by the IFC, the EU and the German government.

"Cooperation with the IFC and donors will give Ukraine the opportunity to improve energy efficiency and reduce carbon dioxide emissions, at the same time helping the country fulfill its international obligations," Yulia Holovatiuk-Ungureanu, the director of the Energy Efficiency Fund, commented on signing the agreement.

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