President signs law on ratification of financial agreement with EIB to improve energy efficiency of higher education institutions

President signs law on ratification of financial agreement with EIB to improve energy efficiency of higher education institutions

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Ukrinform
President of Ukraine Petro Poroshenko has signed the law on ratification of the financial agreement between Ukraine and the European Investment Bank which will provide an opportunity for attracting about EUR 120 million in loan funds, in particular, to improve the energy efficiency of higher education institutions.

This is reported by the press service of the Head of State.

"President Petro Poroshenko signed the Law of Ukraine “On Ratification of the Financial Agreement (Ukraine’s Higher Education Project) between Ukraine and the European Investment Bank”, approved by the Verkhovna Rada of Ukraine on November 8, 2017," the statement reads.

It is noted that the purpose of the agreement is to attract about EUR 120 million in loan funds under the state guarantees from the European Investment Bank to improve energy efficiency of the higher education institutions.

The Ukraine Higher Education project is aimed at the refurbishment of teaching, research and supporting facilities at various state higher education institutions in Ukraine with a view to improving their energy efficiency and making other non-energy efficiency related educational investments. The objective is to reduce the running costs of participating state higher education institutions, and to improve the quality of teaching, learning and academic research facilities. 

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