E5P is a €90 million multi-donor fund managed by the EBRD designed to promote energy efficiency investments in Ukraine and other eastern European countries and was set up under the initiative of the Swedish government during its presidency of the European Union in 2009.

The fund will complement energy efficiency loans provided by financial institutions including the European Bank for Reconstruction and Development, the European Investment Bank, the Nordic Investment Bank, the Nordic Environment Finance Corporation and the World Bank Group.

Grants under E5P will be allocated to four priority areas: district heating, other energy efficiency projects, environment projects in Ukraine as well as additional projects in other eastern European countries.
In addition to promoting energy efficiency in district heating projects, funding will also support other investments aimed at making substantial energy savings. Environmental projects, such as waste water or renewable energy, will also be within the scope of the grant funding.

The European Bank for Reconstruction and Development is the largest financial investor in Ukraine. As of 31 December 2010, the Bank had committed over €6 billion through 264 projects.

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The EBRD, owned by 61 countries and two intergovernmental institutions, is supporting the development of market economies and democracies in countries from central Europe to central Asia. www.ebrd.com

Visit the EBRD’s website: www.ebrd.com