State Agency for Energy Efficiency and Energy Saving of Ukraine (SAEE) together with experts of the Nordic Environment Finance Corporation (NEFCO) initiates the development of the concept of a new financial instrument in Ukraine - the Green Investment Fund.
Establishment of the Fund will become another promising area of cooperation along with the already successful partnership between the Ministry of Foreign Affairs of Finland, NEFCO and SAEE. Close cooperation between Ukraine and Finland was enshrined in the conclusion of the relevant Memorandum in 2017.
Due to such a fruitful cooperation the Finnish-Ukrainian Trust Fund was established and is already operating by financing the preparation of a feasibility study for green projects.
Moreover, the Finnish-Ukrainian Trust Fund received the highest demand for the development of a study designed to create a Green Investment Fund in Ukraine.
The abovementioned Fund will allow to provide co-financing for new green energy projects as well as to remove major barriers to the implementation of these projects.
It is also envisaged that domestic and international financial institutions will be able to enage in the work of the Fund.