IFC, EU and Germany to boost energy efficiency in Ukraine
The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with the European Union and Germany to support the Ukrainian government’s efforts in reducing energy waste and greenhouse gas emissions in the residential sector, IFC said in a press release. A new multi-donor fund (EEF) will be set up to help boost energy efficiency in Ukraine. IFC will initially manage up to 53 million euros of funding from the EU (43 million euros) and Germany (10 million euros). German environment minister Svenja Schulze said that “the establishment of the EEF will support Ukraine in transforming energy subsidies to investments and reducing pressure on the public budget.”
Find the IFC press release in English here.