Ukraine’s Cabinet of Ministers has resolved to approve bank transfers of special purpose funds for financing investment programs in heating, centralized water and wastewater. The authorized banks to handle the transfers are Oschadbank of Ukraine and Ukrgasbank, the Information-analytical Bulletin of the Cabinet of Ministers of Ukraine reads.

The resolution says that legally established business entities shall within one month after being licensed open a special account in an authorized bank.

Funds will be transferred daily to finance investment projects for heating, central water supply and drainage. The necessary amount of funds is determined based on the investment component of the established tariffs for the provision of related services.

Ukraine’s Ministry of Regional Development, Construction and Housing and Communal 
Services has drafted measures to provide control over its investment in public services, as well as the targeted use of funds intended to finance specific projects.

This approach will increase the investment attractiveness of municipal services, improve the quality and reliability of the services that customers require through the introduction of new technologies for the modernization and reconstruction of housing and communal services.

The Ministry of Regional Development pays considerable attention to the improvement of the current legislation, which regulates municipal sphere. In cooperation with international financial organizations, the ministry has prepared a number of projects to improve the quality of housing services and reduce the cost of maintaining them.

Project implementation in the housing sector has attracted 1.5 billion Euros in credit. 
Some 201 million USD of international technical assistance for the implementation of 29 projects in water supply and sanitation, energy efficiency and energy saving, as well as for district heating, has also been raised.


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