The World Bank board has approved a $200 million loan to Ukraine for the energy efficiency project, according to UKRINFORM.

The borrower is the state-run Ukreximbank, which can perform direct project financing, or refinance the money to other participating banks for implementation of separate provisions against the Ukrainian government guarantees.

The project aims to help Ukraine achieve its ambitious goals to reduce energy intensity by 20% before 2015 and by 50% before 2030. This will also help reduce Ukraine's dependence on imported gas and thus reduce the risks of energy security and energy costs, the World Bank says.


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