Ukraine gets €53m energy efficiency boost

The IFC, a member of the World Bank, will manage the funding from the EU and Germany

By Priyanka Shrestha

The EU, Germany and IFC, a member of the World Bank Group, are supporting Ukraine’s work in boosting energy efficiency in the residential sector.

They have signed agreements, under which the IFC will initially manage funding worth €43 million (£37.6m) from the EU and €10 million (£8.7m) from Germany.

The grants will be used to co-finance programmes of the Ukrainian Energy Efficiency Fund, a new initiative to enable housing associations to implement energy-saving measures in multi-family buildings.

Ukraine has one of the largest housing stocks in Europe but many homes are said to be old and inefficient, with poorly insulated buildings that lose as much as 50% of their heat.