Ukraine to continue participation in Eastern Europe Energy Efficiency Partnership Fund
“The signing of the agreement will allow Ukraine to continue its participation in the E5P Fund. Such interest was expressed during a meeting of the Assembly of Contributors of the E5P Fund in 2019, where it was decided to continue the E5P Fund until 2029. The agreement provides for a contribution to the Fund in the amount of EUR 10 million, which will give access to financial support in the form of grants and technical assistance for the implementation of projects,” reads the report.
The ministry has specified that these projects are aimed at raising energy efficiency and improving the environmental situation, which are expected to result in a significant reduction in electricity consumption, reduction of emissions of carbon dioxide and other greenhouse gases.
Ukraine's participation in the previous phase of the E5P Fund, with a payment of EUR10 million as contribution, allowed the state to attract funding for the implementation of 22 projects with a total cost of over EUR 516 million.
“The signing of the agreement shows Ukraine's interest in improving energy efficiency and the environment of our country. This is a positive signal for international financial organizations such as the EBRD, the European Investment Bank, the Nordic Investment Bank, the Nordic Environmental Finance Corporation and the International Finance Corporation," Buslavets said.
The Eastern Europe Energy Efficiency and Environment Partnership (E5P) is a EUR 200 million multi-donor fund that encourages municipal investments in energy efficiency and environmental projects in the Eastern Partnership countries such as Armenia, Belarus, Georgia, Moldova and Ukraine. The decision about the establishment of the E5P Fund was adopted in 2009, jointly with the European Bank for Reconstruction and Development, European Commission, European Investment Bank, the Nordic Investment Bank, the Nordic Environment Finance Corporation, the International Bank for Reconstruction and Development and the International Finance Corporation.
iy
