Chairman of the State Agency for Energy Efficiency and Energy Saving of Ukraine (SAEE) Serhii Savchuk and representatives of the Ministry of Foreign Affairs of Finland discussed the current results of cooperation between the two countries and the features of the work of Finland Ukraine Trust Fund with the total budget of €6 million. The fund provides financing to the preparation of projects in the field of energy efficiency, clean energy and generation of energy from garbage.

The trust fund was established in 2018 and is a continuation of the cooperation of NEFCO, Ministry for Foreign Affairs of Finland and SAEE.

All work being carried out is aimed to implementation of the Memorandum of Cooperation between the Ministry of Foreign Affairs of Finland and SAEE concluded in 2017.

During a meeting the parties agreed that the trust fund is effective financial tool for supporting the development of green projects in Ukraine.

Moreover, the attendees touched upon  the initiative being implemented by SAEE on the introduction of a "green" investment fund in Ukraine that was designed in line with the well-known Green Investment Group in the UK.

"Under the concept, the fund  may become a blueprint for for the development of qualitative feasibility studies for" green "projects with a view to attracting funding," Serhii Savchuk stressed.

The sides drew attention to the prospects for the development of "green" energy in Ukraine in view of the planned transition to the auction system.

Apart from that, the participants focused on such legislative initiatives in Ukraine as: development of the field of production and use of liquid biofuels; introduction of the system of electronic trading of solid biofuels; stimulating the energy utilization of garbage.

Following the meeting, the parties agreed to continue cooperation within the framework of the trust fund as well as  to work on partnership opportunities in all the above-mentioned areas, including through the Twinning instrument.