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Functional model of the Energy Efficiency Fund presented
17.05.2016 | 14:23
PRESS SERVICE OF VICE PRIME MINISTER OF UKRAINE

A functional model of an Energy Efficiency Fund was presented targeting to ensure rational financing for energy efficiency projects. The Fund’s concept had been developed by analysts of the Ministry of Regional Development, together with Ukrainian and international experts and members of donor organizations. This is another step approaching the establishment of the Fund. This was announced by Vice Prime Minister/Minister of Regional Development, Construction, Housing and Utilities of Ukraine Hennadii Zubko.

The Vice Prime Minister stressed: "Thus far a detailed functional model and a plan for the creation of an Energy Efficiency Fund have been presented, and it should become a strategic tool to ensure implementation of the energy efficiency reform which is essential for the country. The Fund’s aim is sustainable financing for energy efficiency projects. Apart from that, it’s a step towards energy independence of the State and infrastructure modernization. Together with European experts we have prepared a format for the operation of it. Hence, next is the adoption of relevant government decisions, drafting and approval of legal acts."

Hennadii Zubko said that the prospective effect of the introduction of an Energy Efficiency Fund project would be the actual twofold reduction in gas consumption that is spent on individual heating and heating of apartment buildings. "Moreover, start of operation of the Fund will trigger additional investment in the Ukrainian economy, creation of about 100 thousand new jobs and relieving the monetary burden on the balance of payments of the State", said the Vice Prime Minister.

 

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