REUTERS
The initiative comes as a third, and final stage of the project on energy efficiency renovations in Ukraine’s residential sector launched by the IFC, which is a member of the World Bank Group.
The Swiss State Secretariat for Economic Affairs (SECO) will provide up to $1.8 million to IFC Advisory Services to support legal reforms that will support energy-efficiency refurbishments by engaging with housing management companies on behalf of homeowners’ associations, the IFC press service reports.
Ukraine has one of the largest housing stocks in Europe, but many homes are old and inefficient. Poorly insulated buildings lose as much as 50 percent of their heat, according to the report.
"The initiative represents the third and the final phase of IFC’s Residential Energy Efficiency Advisory project in Ukraine, which started in partnership with SECO in 2010. The first two phases of the project achieved remarkable results, including the adoption of legislation that enabled energy efficiency reforms in the housing sector," the press service says.
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UNIAN memo: IFC is a major investor in Ukraine's agro-industrial sector. The Corporation has invested more than $1 billion in support of projects along the value chain, stimulating innovation and helping producers enter new export markets.
A member of the World Bank Group, IFC is the world's largest development institute focused on the private sector in emerging markets, working with more than 2,000 companies worldwide.
The current portfolio of IFC projects in Ukraine totals $695 million. Since 2004, the Corporation has invested $3.2 billion in 86 Ukraine projects. Last year, IFC investments amounted to $187 million.