15:07 09.04.2021

Ukraine discussing creation of green transformation fund with intl partners – Deputy PM

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Ukraine discussing creation of green transformation fund with intl partners – Deputy PM

Ukraine is negotiating the creation of an international fund for the green transformation of the country with international partners and financial institutions, Deputy Prime Minister Olha Stefanishyna has said in an interview with Interfax-Ukraine.

"The international green transformation fund for Ukraine will accelerate environmental processes in our country by stimulating business and providing it with access to appropriate financial resources," she said.

Stefanishyna said that this issue was discussed at the recent German-Ukrainian Economic Forum.

The deputy prime minister said that in negotiations with the European Union, Ukraine defends the position that its compliance with a high level of ambitions and the dynamics of the implementation of innovative solutions under the Green Deal depends on financial support from the EU. "The disproportionate access to financial resources distorts competition in the European market, and this is the subject of our dialog with the European Union," Stefanishyna said.

At the same time, she said that some green projects will need funding from the national budget, in particular, when it comes to the fair transformation of coal regions or the eco-modernization of Ukrainian state-owned companies.

The deputy prime minister recalled that the state is already financing a number of important environmental initiatives, in particular, the work of the Energy Efficiency Fund and the Ukraine Residential Energy Efficiency Financing program, and also provides support in the form of stimulating green purchases, prioritizing national industries, providing incentives for electric cars, feed-in tariff and green metallurgy.

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