EBRD approves allocation of EUR 250 mln for renewable energy projects in Ukraine

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) on July 18 approved a new Ukraine Sustainable Energy Lending Facility (USELF-III) worth EUR 250 million to finance the country's new renewable energy projects.

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"Yesterday [July 18], the EBRD Board of Directors approved [USELF]," EBRD Chief Spokesman for Eastern Europe, Caucasus, Central Asia Anton Usov told UNIAN on July 19.

As was earlier reported, the EBRD is launching a new lending facility ("USELF-III") to replace the original USELF, which expired on June 30 2018. Since inception, the facility has invested more than EUR 100 million to finance renewable energy technologies.

In 2010, the EBRD announced the launch of the USELF worth EUR 50 million (the sum was doubled later) to finance local private enterprises for investment in Ukraine's renewable energy: small hydropower, wind power, solar energy facilities, 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.