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World Bank to grant Ukraine EUR 300M to increase energy efficiency

World Bank to grant Ukraine EUR 300M to increase energy efficiency
15 of December 2021 г.
First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Svyrydenko announced this on Facebook.

Svyrydenko discussed key issues of deepening of partnership with World Bank Regional Country Director Arup Banerji on December 14.

"Good news: already on December 17, the Board of Governors of the World Bank will consider the provision of EUR 300 million to Ukraine within the framework of the second tranche under the Second Economic Recovery Development Policy Loan project. These funds will be used primarily to finance the presidential Energy Independence project," Svyrydenko noted.

According to her, a large-scale thermal modernization program is designed to significantly reduce the energy consumption of Ukrainians and, accordingly, energy costs.

"Program participants will be able to reduce energy consumption and utility payments by 60%. Already in 2022, we plan to cover up to 5,000 multi-apartment buildings throughout the country," the official added.

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