09:18 23.03.2021

Ukrgasbank expands 'green' financing for medicine, waste treatment, energy storage systems

1 min read
Ukrgasbank expands 'green' financing for medicine, waste treatment, energy storage systems

State-controlled Ukrgasbank, 35% of whose loan portfolio is made up of "eco-projects," in particular, renewable energy and energy efficient modernization, has expanded the scope of "green" financing to new areas: medicine, waste treatment, energy storage systems, improvement of water use efficiency and cogeneration projects.

"We will develop new directions together with our partner IFC. The funds allocated under the loan agreement will be used to finance just such projects," the bank said in a press release on its website.

As reported, at the end of January 2021, the International Finance Corporation (IFC) and Ukrgasbank signed an agreement on the allocation of a five-year loan to the bank for EUR30 million with the possibility of converting it into a 20% stake in the capital.

The financial institution reminded that within the framework of "green" financing the matter concerns lending at preferential rates.

According to the National Bank of Ukraine, as of January 1, 2021, Ukrgasbank ranked fourth in terms of total assets (UAH 151.403 billion).

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