Deputy Prime Minister/ Minister of Regional Development, Construction, Housing and Communal Services of Ukraine Hennadii Zubko during the signing of the trilateral agreement between the International Finance Corporation (IFC, World Bank Group), the Energy Efficiency Fund and UkrGazBank for launching a program for financing the projects of thermal renovation of buildings for condominiums said that financing of the Energy Efficiency Fund projects has triggered.

"Today's event is a landmark event for Ukraine, a country that seeks for energy independence. The signed agreement gives start to financing of the first 15 projects in condominiums, the first fruit, which tests the procedures of the Energy Efficiency Fund. Due to our joint work with the Government of Germany, the World Bank, thanks to the strong support of the European Union, the Government and Parliament, we have developed all the necessary conditions - the State Energy Efficiency Fund and the Multi-Donor Fund have been established, the Supervisory Board and the Funds management have been selected. With the support of the World Bank, procedures have been developed, and unprecedented funding allocated. All these steps are aimed at fulfilling a specific task - within three years the country must abandon imported gas. But if the country is moving towards increasing gas production, then the housing sector's objective is to reduce energy consumption by half. And the Fund is another key tool designed to provide not only financial but also technical support in this direction. Our goals are rather ambitious - energy independence of the country, reduction of energy consumption in the residential sector by 50%, and annual support by the Fund of at least 3,000 projects", stressed Hennadii Zubko.

Total financing of 15 projects in condominiums makes up about UAH 40 million.

In turn, World Bank Director for Ukraine, Belarus and Moldova Satu Kahkonen emphasized that today we can talk about the full Funding of the Energy Efficiency Project has begun, says Hennadii Zubko

"The World Bank provided assistance in developing the governance structure in the Energy Efficiency Fund, as well as procedures for the proper distribution of grants. And we will continue this close cooperation with Ukraine in collaboration with other international partners in order to thoroughly adjust the procedures of the Fund and ensure the availability of other condominiums to the institution. Today's event is the first rather crucial step to increase energy efficiency in Ukraine, and much of the merit goes in this matters to the line Deputy Prime Minister Hennadii Zubko. I want to thank for the close cooperation that has been provided by the Government of Ukraine and the efforts made to launch the Energy Efficiency Program", said Satu Kahkonen.

Jason Brett Pellmar, IFC Regional Manager for Ukraine, Belarus and Moldova stressed that IFC is proud of the trust that international partners and the Government of Ukraine provided for the implementation and support of an innovative and highly relevant program for every resident of an apartment building. "Involving the financial sector in the development and energy modernization of the country provides the efficiency of application of state and international funds", he said.

In turn, Hennadii Zubko thanked the European Union, the World Bank, the Government of Germany, IFC, GIZ, UNDP, UkrGazBank and legal partners for their assistance and support.