EBRD allocates 100 million USD to finance energy efficiency projects in Ukraine

Anton Usov, lead advisor on external relations of the European Bank for Reconstruction and Development (EBRD), has said the bank allocates 100 million USD to finance energy efficiency projects in Ukraine. The decision on this subject was made by the Board of Directors of the Bank on Dec. 10, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

With these funds Ukrainian banks and leasing companies will be able to finance energy efficiency projects.

It is expected to select certain Ukrainian banks and open credit lines for them to finance specific projects.

According to experts, the reduction of energy consumption per unit of GDP allows us to solve several problems. Businesses become more efficient and profitable, and their products more competitive in the domestic and foreign markets. As a result, they pay more to the state budget, and subsequently the state receives a source to increase salaries and social benefits.

Improvement of the enterprises’ energy efficiency also creates conditions to increase the wages of the workers.

It is equally important to increase energy efficiency and reduce energy costs for the public sector. With the reduction of the costs of heating and lighting of housing and public institutions, opportunities to use these funds for other purposes increase, experts stress.

Experts believe that in terms of the struggle for energy independence of Ukraine, the implementation of energy efficiency measures is to some extent even more important than diversification of energy sources in the country.

Today in Ukraine, according to experts, energy consumption per unit of GDP cash equivalent is twice higher than in the European Union. That's why experts are positive about the government’s steps aimed to promote energy efficiency measures, introduction of energy-saving technologies in Ukraine, modernization and technical re-equipment of domestic enterprises, enhancement of the national economy competitiveness.