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EBRD to finance clean technologies in Ukraine

EBRD to finance clean technologies in UkraineThe European Bank for Reconstruction and Development (EBRD) has launched the EBRD's Finance and Technology Transfer Centre for Climate Change (FINTECC) programme in Ukraine, EBRD Director for Ukraine Sevki Acuner said at a press conference in Kyiv on Wednesday.

"The three-year programme is supported by US$ $7 million grant funding from the Global Environment Facility (GEF) and a €4 million grant from the EU’s Neighbourhood Investment Facility (NIF). FINTECC will help Ukrainian businesses invest in the best available technologies, which will lead to a reduction in greenhouse gas emissions. These may include energy, materials and water efficiency technologies as well as renewable energy technologies not yet available or rare in Ukraine," he said.

Acuner said that EBRD plans to provide financing of up to EUR 40 million under the program.

Terry McCallion, Director of the EBRD’s Energy Efficiency and Climate Change team, said that under the programme, individual companies may receive grant funding covering up to 25% of the cost of a new technology and capped at $ 1 million.

He said that EBRD anticipates that around 15 projects will be realized in Ukraine. $500,000 of grant funds will be provided to each project on average.

In turn, Walter Tretton, Head of Energy, Climate, Transport and Environment section at the EU Delegation to Ukraine, said that several programmes will be organized for Ukraine soon. This concerns the EU for business to support Ukrainian exporters who mainly present innovative products.

"I hope that the programme will be approved if not in the next several weeks, but in coming months," he said.

Tretton said that the new programme to finance energy efficient projects in the housing sector of Ukraine will be organized via EBRD and local banks.
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