IBRD to provide Ukraine funds to implement energy-saving technologies

"The Government conducts systematic work to raise funds from international financial institutions (IFIs) to upgrade housing and utilities, to introduce energy-saving technologies and to improve the quality of public services. Specifically, on February 12, the Cabinet of Ministers decided to raise funds of the International Bank for Reconstruction and Development for the project "Improving energy efficiency in the district heating sector of Ukraine." Negotiations with the International Bank for Reconstruction and Development tentatively scheduled for February 20-21 of 2014," Vice Prime Minister Olexandr Vilkul said.

Due to realization of the project "Improving energy efficiency in the district heating sector of Ukraine" 10 heating companies will reduce natural gas consumption by 3.2%, and to upgrade the technical condition of the central heating and will improve the quality of public services to citizens.

Amount of loan can be up to USD 382 million of which approximately $ 332 million will be provided by the International Bank for Reconstruction and Development and about $ 50 million by the Clean Technology Fund of the IBRD.