newsProject Description

The EBRD is considering establishing the Ukrainian Residential Energy Efficiency Financing Facility (“UREEFF”) in the amount of up to $100 million. The funds will be made available to Participating Financial Institutions (“PFIs”) in Ukraine for on-lending to eligible private sector sub-borrowers for sustainable energy investments in the residential sector.

To minimise the Foreign Currency conversion risk of the loan proceeds into local currency and on-lending to the end-borrowers, EBRD credit lines to PFIs will be supported by a partial hedge against local currency devaluation (up to a predefined maximum devaluation ceiling) expected to be funded by a grant from the Clean Technology Fund (“CTF”).

The credit line will be also complemented by Donor funds to support the implementation of Technical Cooperation (“TC”) and non-TC incentive mechanism of the Facility. Potential identified donors include: CTF, Eastern European Energy Efficiency and Environmental Partnership (“E5P”), the German Federal Ministry for Environment, Nature Conservation, Building and Nuclear Safety (“BMUB”), and EBRD-Ukraine Stabilisation and Sustainable Growth Multi-Donor Account.

Full article is available HERE.