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A new program aimed to support the development of sustainable energy sources and energy efficiency in the country was launched in Ukraine. The European Bank for Reconstruction and Development (EBRD) is funding the program in the amount of 100 million USD, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
The aim of the program is to implement new skills in the energy sector of Ukraine on the basis of project financing through a network of Ukrainian banks.
Experts of the energy market point out that sustainable energy financing program is a continuation of the Ukrainian Energy Efficiency Program (UKEEP) implemented in 2007 - 2013.
The program involved 5 financial institutions funding 77 energy efficiency projects throughout the country.
Raiffeisen Bank Aval was the first bank that participated in the new EBRD program and received 20 million USD. The EBRD points out more banks can join this program as well. Loans will be issued to Ukrainian companies through these programs to enhance energy efficiency, reduce energy needs and, respectively, improve the environment.