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Ukrainian govt agrees Energy Efficiency Fund concept

Ukrainian govt agrees Energy Efficiency Fund conceptThe Cabinet of Ministers at a meeting on June 13 endorsed the concept of the Energy Efficiency Fund to be created.

"Setting up the Energy Efficiency Fund will allow making very simple things, first of all, improve the efficiency of energy consumption. We [in the country] have about 100,000 multi-apartment buildings, 7.5 million private households. We don't need to do pilot projects but broad scale implementation, effectively, in every town, in every settlement. Today energy efficiency concerns the whole country," Deputy Prime Minister, Minister of Regional Development, Construction, Housing and Utilities Services Hennadiy Zubko said.

Read also: Ukraine's Energy Efficiency Fund may raise UAH 5 bln in five years - Vice Prime Minister

Zubko said donors from the European Union and the German government are close to confirming their participation in co-financing the fund from next year.

Read also: Ukraine's Energy Efficiency Fund to be launched by January 2017

According to the minister, the successful work of the fund will allow saving 1.5 billion cubic meters of gas annually, ensuring the creation of 75,000 new jobs with the involvement of small and medium-sized businesses in the thermal modernization market, conducting energy efficiency measures and energy audits in the residential sector, as well as will help annually save about UAH 5 billion of national budget funds intended for payment of subsidies for housing and utilities services.
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