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The Ukrainian Energy Efficiency Fund has been set up by the Ukrainian government earlier this year in close cooperation with the EU and Germany.
Vice Prime Minister Hennadiy Zubko and Head of the Support Group for Ukraine Peter M. Wagner, in the presence of Prime Minister of Ukraine Volodymyr Groysman, on April 18 signed a Financing Agreement of EUR 50 million to support the Ukrainian Energy Efficiency Fund.
The agreement will contribute to energy savings and to the reduction of greenhouse gas emissions in Ukraine, the EU Delegation to Ukraine has said in a statement.
The EU, together with Germany, will also support the activities of the Energy Efficiency Fund in providing grants to the energy efficient renovations of multi-apartment houses across Ukraine.
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Financing Agreement implements a key element of the EUR 50 million Energy Efficiency support programme for Ukraine (EE4U) adopted last year by the European Commission. The programme consists of EUR 30 million EU contribution to the new Multi-Donor Trust Fund supporting the financing of energy renovation of houses through the Ukrainian Energy Efficiency Fund; EUR 17 million package of technical assistance implemented by IFC (International Finance Corporation) and UNDP to raise awareness in Ukrainian cities, prepare projects at the local level and support the management of the Fund; EUR 3 million technical assistance package for supporting the introduction of modern energy efficiency standards and regulations as well as evaluation and audit.
"Ukraine remains one of the most energy intensive countries in Europe, with energy consumption per square meter at least twice as high as in the EU. By reducing the energy consumption in Ukraine's housing sector, we will contribute to the energy security of Ukraine and improve the living standards of Ukrainian citizens. Our implementing partners will ensure a transparent management of the EU's contribution to the Fund and will set-up a regional network in support of these actions," Wagner commented on the event.
The Ukrainian Energy Efficiency Fund has been set up by the Ukrainian government earlier this year in close cooperation with the EU and Germany. The EUR 50 million Energy Efficiency support programme is part of this effort. Germany will additionally contribute EUR 15 million to the programme, while the Ukrainian government has also committed close to EUR 50 million to the Ukrainian Energy Efficiency Fund in 2018.
Since 2014, the EU has pledged EUR 965 million in the European Neighbourhood Instrument grants to support Ukrainian reforms.