International donors to earmark $51 mln to Ukraine for energy saving

International donors to earmark $51 mln to Ukraine for energy saving

Ukraine has joined the program of Finance and Technology Transfer Centre for Climate Change (FIN-TeCC) under which the European Bank for Reconstruction and Development (EBRD) will allocate $40 million, while the Global Environment Fund and Neighborhood Investment Facility plan to earmark $7 million and $4 million correspondingly, EBRD Director for Ukraine Sevki Acuner has said.

“A total of $51 million will be allocated for the whole program, in particular, EBRD will allocate at least $40 million,” he said at a press conference, an Ukrinform correspondent reports.

The program is estimated for three years. The FIN-TeCC will assist Ukrainian companies in investing into the energy saving technologies.

Under this program, some companies will be able to receive grants worth 5-25% of the cost of new technologies, but not more than $1 million.

The EBRD also expects that as a result of this program, companies will become more resource-efficient and reduce costs on energy resource


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