The European Bank for Reconstruction and Development (EBRD) plans to launch the Ukraine Sustainable Energy Lending Facility (USELF-III) worth EUR 250 million to finance the country's new private renewable energy projects.

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"The EBRD intends to commit an envelope of EUR 250 million from its own resources to finance new private renewable energy projects in Ukraine," the EBRD said in a statement on its website.

As reported, the EBRD is launching a new lending facility ("USELF-III") to replace the original Ukraine Sustainable Energy Lending Facility ("USELF"), which is set to expire on June 30 2018. Since inception of the USELF program, the bank has funded projects worth EUR 100 million.

As UNIAN reported earlier, in 2010, the EBRD announced the start of the program, which aims to provide financing to local private enterprises for investment in Ukraine's renewable energy: small hydropower, wind power, solar energy, as well as the use of biomass and biogas.

UNIAN memo. The EBRD is the largest international financial investor in Ukraine. To date, the Bank has made a cumulative commitment exceeding EUR 12 billion through 400 projects since the start of its operations in the country in 1993.