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Vice Prime Minister has presented for investors a model of Energy Efficiency Fund
29.01.2016 | 09:39
PRESS SERVICE OF VICE PRIME MINISTER OF UKRAINE

With the support of the German Government and the European Union, the Ministry of Regional Development, Construction, Housing and Utilities of Ukraine has developed a financial model of the Energy Efficiency Fund. Vice Prime Minister/ Minister of Regional Development, Construction, Housing and Utilities Hennadii Zubko announced while delivering a speech at the International conference “Focus Ukraine: Global Export Credit Agency and Multilateral Financial Institutions Strategy Meeting”.

The Fund shall be filled from two sources: the state, with a planned UAH 800 million sum this year, and international financial donors who have already signed preliminary agreements.

"Now we have to fuel a powerful vehicle which will allow to attract funds and encourage investors. This requires time and simple solutions. We should additionally elaborate a model of the Fund and to provide necessary legislative tools to protect investment and to refund. Thereby, these measures will facilitate Ukraine to shift to a completely independent energy level", said Hennadii Zubko.

He stressed that the demonstrated model of the Fund had proved its efficiency in the EU, in particular, in Lithuania. Now it's time for Ukraine to leverage investment and technologies that will allow to achieve the energy savings at the level of 45%.

Hennadii Zubko invited investors to participate in the process of filling the Energy Efficiency Fund and to extend long-term loans for the implementation of energy efficient measures. He added that now the volume of the Ukrainian energy efficiency market is worth US $ 40 billion, while the annual investment volume is estimated at US$ 1.5 billion. Therefore, this area is rather attractive for investors.

It should be noted, the Regional Development, Construction, Housing and Utilities of Ukraine is responsible for the implementation of key reforms, inter alia, decentralization and energy efficiency.

 

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