EBRD provides additional EUR 18mln for IQ energy project in Ukraine

EBRD provides additional EUR 18mln for IQ energy project in Ukraine

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EBRD provides additional EUR 18mln for IQ energy project in Ukraine

  • The EBRD expanded IQ energy project and signed the corresponding agreements with domestic banks to managing the funds for energy efficient projects of the households

The European Bank for Reconstruction and Development signed agreements worth EUR 18mln with domestic banks of OTP Bank, Ukrsibbank, Raiffeisen Bank Aval, and a new IQ Energy program partner, that is Credit Agricole, told Sevki Acuner the EBRD head in Ukraine. This is an additional financing to the existing facilities of the energy efficiency program for domestic households.

The IQ energy program has managed to prove its effectiveness. During the existence of the program, a number of 12-13 thousand Ukrainian households participated with their projects in the frames of the program. The EBRD director voiced it made up UAH 320mln (USD 12mln) worth in loans. In addition, the EBRD carries its own programs in the municipal and industrial sectors of Ukraine.

To remind, the IQ energy program is a financial instrument aimed at promoting improvements in energy efficiency in the residential sector of Ukraine in accordance with European standards. The developer of the program is the European Bank for Reconstruction and Development with the support of other donors.

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