IFC estimates Ukraine's potential for issuing green bonds at $ 73 billion by 2030 – Energy Ministry

KYIV. Nov 5 (Interfax-Ukraine) – Ukraine's potential in attracting funds by issuing climate bonds is estimated at $73 billion before 2030, Deputy Energy Minister Yaroslav Demchenkov has said, citing calculations of the International Finance Corporation (IFC).

"Ukraine has great potential for attracting green financing. According to IFC estimates, the country will be able to attract about $73 billion by 2030. And green bonds are exactly the instrument that can create a multiplier effect of attracting financing," Demchenkov, quoted by the press service of the Ministry of Energy on its website on Thursday, said.

According to the report, the draft Concept for the introduction and development of the green bonds market, developed by the Ministry of Energy and the State Agency on Energy Efficiency and Energy Saving, is undergoing an approval procedure.

At the same time, the Ministry of Energy said that they expect to attract international financial institutions – IFC, the European Bank for Reconstruction and Development (EBRD), World Bank, as well as local "green" banks to the implementation of this project, which, in its opinion, will create opportunities for the start of this financial instrument.

In 2020, the global emission of climate bonds is projected at $350 billion, which is 40% higher than in 2019, estimated at $250 billion.