22 September 2017
Our Community

Ukraine seeks to attract $1 bln for energy-saving projects

The Ukrainian government has plans to attract around 1 billion U.S. dollars for implementing new energy-saving projects in the next three years, Deputy Prime Minister Olexandr Vilkul announced Wednesday, according to Xinhua.

"These funds will allow us to reduce the consumption of gas and electricity and will definitely improve the quality of utility services," Vilkul said during his visit to Wastewater Treatment Plant in western Ivano-Frankovsk region.

Ukrainian authorities will hold the negotiations over the " green loan" with the European Bank for Reconstruction and Development, the World Bank and other international financial investors, Vilkul said.

Ukraine needs the loan to update its industrial and utility complexes, which use the Soviet-era facilities, squandering too much energy, Vilkul said.

Ukraine, which has one of the world's highest energy consumption per unit of gross domestic product, targets to reduce it by introducing new technologies.

Currently, around 230 projects are underway in Ukraine to increase energy efficiency.

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