Thanks to the Government’s decision last month to extend the Affordable Loans at 5-7-9 programme, condominiums and housing cooperatives can now receive loans for the purchase and installation of energy equipment. In particular, GLOBUS BANK issued its first energy loan to a condominium under this programme. Earlier, a similar loan agreement was concluded by Sense Bank.

“One of the Government’s priorities is to prepare for the heating season, so one of the priority steps was to expand the Affordable Loans at 5-7-9% programme, which allows condominiums and housing cooperatives to apply to one of 46 authorised banks and receive a loan of up to UAH 5 million for up to 5 years at 7% per annum. This opportunity was used by an apartment complex GreenWood in Lviv region to purchase and install solar power plants in two apartment buildings,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

In his turn, Serhii Mamedov, Chairperson of the Management Board of GLOBUS BANK, noted that Government’s energy lending programmes significantly increased the ability of citizens to overcome all difficulties related to energy supply.

“Energy loans for condominiums can become a real ‘mainstream’, as it is the way to complete energy independence. In addition, the high payback period will encourage condominiums to participate more actively in energy lending programmes,” summed up Serhii Mamedov.

The following credit instruments are currently available to businesses and individuals:

• Extended Affordable Loans at 5-7-9% programme for businesses to purchase and install gas-fired power generation units. The soft loan amount is up to UAH 150 million and the loan term is up to 10 years.
• Concessional lending for energy infrastructure rehabilitation projects provided by 19 of Ukraine’s largest banks. The loan amount can be up to EUR 25 million. The loan term is up to 5-7 years.
• Affordable Loans at 5-7-9% programme for condominiums and housing cooperatives. The loan amount can be up to UAH 5 million for up to 5 years at 7% per annum. The programme works in combination with the GreenDIM programme. Under this programme, condominiums and housing cooperatives will be able to receive compensation of up to 70% of the project cost after its completion.
• Concessional loans at 0% for households to install solar panels with energy storage systems and wind turbines. The loan amount is up to UAH 480,000. The loan term is 10 years.