Business news from Ukraine

STATE-OWNED BANKS ISSUE ANOTHER UAH 67 MLN OF ENERGY EFFICIENCY FINANCING TO POPULATION

In the period from May 1 to May 12, 2020, state-owned banks issued UAH 67 million of energy efficiency financing to those who plan to improve energy efficiency of their homes in 2020, according to the Energy Reform Internet portal.
State Agency of Ukraine on Energy Efficiency and Energy Saving said on Wednesday, May 13, that last week financing was received by another 1,544 households and some 122 associations of multi-apartment block co-owners took advantage of the program, namely, more than UAH 35 million for thermal insulation of apartment buildings, about UAH 32 million for energy efficient measures in private households, UAH 900,000 for solid fuel boilers.
“In fact, more energy efficiency financing was issued for a week than for the entire month of April, which amounted to UAH 63 million. More than UAH 130 million of financing for energy efficiency purposes has been issued to the population and the associations of multi-apartment block co-owners since the beginning of the program,” the agency said.

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STATE-CONTROLLED UKRAINIAN BANKS JOIN ISSUING ENERGY EFFICIENCY FINANCING FOR POPULATION

State-controlled Oschadbank and Ukreximbank (Kyiv) have signed an agreement on cooperation with the State Agency of Ukraine on Energy Efficiency and Energy Saving under the program of energy efficiency financing for the population in 2020.
According to a statement on the website of Ukreximbank, the financial institution will provide energy efficiency financing for individuals for energy efficient measures in private houses with the possibility of receiving compensation for 35% of the loan amount, but not more than UAH 14,000.
In order to obtain advice from a loan specialist and determine the time of a visit to a bank office, individuals need to contact the nearest office of the financial institution by telephone in advance. Such measures have been taken to prevent the spread of coronavirus (COVID-19) and minimize contacts between citizens during the quarantine period, the bank said in the statement.
According to the agency’s statement on its Facebook page on Thursday, April 16, Oschadbank will provide energy efficiency financing to individuals for the purchase of gas boilers with solid fuel, energy efficient materials and equipment for private houses, as well as for associations of multi-apartment block co-owners for the introduction of energy-efficient measures multi-apartment buildings.

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UKRAINE RAISES CHARTER CAPITAL OF ENERGY EFFICIENCY FUND

The Cabinet of Ministers of Ukraine has amended the charter of the Energy Efficiency Fund, increasing its charter capital by UAH 1.119 billion, MP Oleksiy Honcharenko has said. “The Cabinet of Ministers has increased the charter capital of the Energy Efficiency Fund by UAH 1.119 billion,” he said on Telegram.
The decision will allow implementing 2,041 thermal modernization projects for multi-apartment buildings, the press service of the Ministry for Community and Territory Development said.
As reported, the national budget of Ukraine for 2019 foresees UAH 1.6 billion for the charter capital of the Energy Efficiency Fund.
The Energy Efficiency Fund intends within five years to finance more than 16,000 projects under the energy modernization program for the associations of co-owners of multi-apartment buildings.

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ENERGY EFFICIENCY AGENCY DEVELOPS CONCEPT OF “GREEN” INVESTMENT FUND IN UKRAINE

The State Agency of Ukraine on Energy Efficiency and Energy Saving together with the Nordic Environmental Finance Corporation (NEFCO) and experts from the Finland Ukraine Trust Fund is initiating the development of a concept for a new financial instrument in Ukraine – the Green Investment Fund (GIF UA), head of the agency Serhiy Savchuk has said.
“Work on the fund will be another priority area of partnership between the Finnish Foreign Ministry, NEFCO and the state energy efficiency agency. Close cooperation between Ukraine and Finland was secured by the signing of a relevant memorandum in 2017,” he said on his Facebook page.
According to Savchuk, the fund will provide co-financing for new “green” energy projects and remove major barriers to the implementation of these projects: a lack of collateral, demand for equity, etc.
“Our goal is to establish in Ukraine a reliable financial instrument for financing projects like Green Investment Group in the UK, DEG in Germany,” the expert said.

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EU APPOINTS LAST REPRESENTATIVE TO SUPERVISORY BOARD OF ENERGY EFFICIENCY FUND OF UKRAINE

The European Union (EU) has selected Laura Garbenciute its representative in the supervisory board of the Energy Efficiency Fund of Ukraine, thus, completing the creation of the board. According to a report of the press service of the Regional Development, Construction, Housing and Utilities Economy Ministry, earlier Garbenciute worked in PricewaterhouseCoopers and has considerable experience in the audit sphere.
As reported, two representatives from the government, one representative from international donors and two independent representatives are members of the supervisory board of the Energy Efficiency Fund. They are elected for five years. The same person is restricted to three terms of office and may be selected only at a tender.
The Cabinet of Ministers of Ukraine selected its representatives in the supervisory board of the Energy Efficiency Fund: Deputy Finance Minister Yuriy Heletei and Director of the life-support systems economy department of the Regional Development, Construction, Housing and Utilities Economy Ministry Natalia Khotsianovska.
Winners of the tender to select independent members of the supervisory board of the Energy Efficiency Fund are Andrzej Rajkiewicz (Poland) and Yulia Sabatiuk (Ukraine).

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ANDRZEJ RAJKIEWICZ FROM POLAND ELECTED HEAD OF SUPERVISORY BOARD OF ENERGY EFFICIENCY FUND

The supervisory board of the Energy Efficiency Fund has elected Andrzej Rajkiewicz its head, the press service of Deputy Prime Minister, Regional Development, Construction, Housing and Utilities Economy Minister of Ukraine Hennadiy Zubko has reported.
“Rajkiewicz was elected head of the supervisory board of the Energy Efficiency Fund – a person who has extensive experience in energy efficiency in Poland and other European countries. This decision was made at the first meeting of the fund’s supervisory board on December 17,” Zubko said.
According to him, the meeting also approved the rules of procedure for the meetings of the supervisory board, determined the procedure for selecting members of the directorate and the head of the internal audit unit, approved the action plan for 2018 and the first quarter of 2019. In addition, the announcement of the tender to select management is expected.
As reported, four members of the fund’s supervisory board have already been selected, the last one is expected to be defined – a representative from the European Union.
The Cabinet of Ministers of Ukraine selected its representatives in the supervisory board of the Energy Efficiency Fund: Deputy Finance Minister Yuriy Heletei and Director of the life-support systems economy department of the Regional Development, Construction, Housing and Utilities Economy Ministry Natalia Khotsianovska.
Winners of the tender to select independent members of the supervisory board of the Energy Efficiency Fund are Andrzej Rajkiewicz Миралинкс (Poland) and Yulia Sabatiuk (Ukraine).
Two representatives from the government, one representative from international donors and two independent representatives will be members of the supervisory board of the Energy Efficiency Fund. They are elected for five years.

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