The EBRD decided to provide EUR 9mln facility in the frames of the energy efficiency program for municipal buildings of Kremenchuk city in Central Ukraine. The funds will be channeled for the improvements in kindergartens, schools and hospitals.
The EUR 9mln facility includes a EUR 6mln long term loan, a EUR 1.5mln concessional loan from the EBRD’s Sustainable Energy Initiative, and a EUR 1.5mln grant from the EBRD Shareholder Special Fund.
The recipient of the loan is Kremenchuk Municipal Energy Service Company. The modernization will secure saving of 19.5GWh corresponding to EUR 1.3mln in monetary terms of saving in 66 buildings over the city.
Kremenchuk has become the first city for such a comprehensive project, told Sevki Acuner the Bank’s director for Ukraine. The economy saver will account to 60% for the energy utility services, as a result of the project implementation.
The energy saving project will assure comfort in educational and medical institutions and decrease spending of the city budget funds for utilities, told Vitaliy Maletskiy the city mayor.
