Regional Development Ministry asks banks to facilitate loans for house insulation

"On September 25, the NBU reduced its refinancing rate to 22%, which is a good signal for the economy as a whole. With this in mind, we asked banks to immediately review their lending products related to the energy efficiency program with the aim of making them more favorable for the end user," the press-service with reference to Vice Prime Minister - Minister of Regional Development, Construction, Housing and Utilities Hennadiy Zubko.

He also recalled that since the launch of the program on September 21, the banks have disbursed 31,503 loans totaling UAH 525.7 million.

According to the State Agency for Energy Efficiency and Energy Conservation, as of August, the funding of the thermal modernization program was provided by by the state-owned Oschadbank, Ukreximbank, and Ukrgazbank.

As UNIAN reported earlier, in early April, Hennadiy Zubko said that the government adopted a program providing for compensation of 20-40% of the cost ofloans for energy efficiency projects. The budget of the program is estimated at UAH 1.57 billion.

The Ukrainian government has allocated UAH 495.72 million to finance the activities of the 2010-2015 state target economic program of energy efficiency and development of the energy production from renewable energy sources and alternative fuels.

On August 12, the Cabinet of Ministers adopted a decree providing for a substantial (up to 70%) increase of compensation for the value of loans attracted by the individuals, who enjoy housing and utility subsidies, to buy non-gas boilers and insulate their houses.

The same resolution provides for an increase in the maximum amount of compensation for loans under thermal and insulation projects from UAH 5,000 and UAH 10,000, to UAH 12,000 and UAH 14,000, respectively, depending on the form of organization in charge of housing management.