World Bank grants Ukraine loan for energy efficiency projects

09:38, May 19, 2011      

Email | Print | Subscribe | Comments | Forum 

The World Bank has allocated 200 million U.S.dollars loan to Ukraine for the energy efficiency projects development, local media reported Wednesday.

According to Ukrainian Ukrinform news agency, the state-run bank Ukreximbank will be the borrower. It will conduct the funds. It can make direct project financing, or share the money with other Ukrainian banks that will lend directly industrial and municipal energy efficiency projects.

Six categories of investment subprojects will receive the money given by the World Bank. The modernization of inefficient and outdated equipment and installation of highly energy-efficient industrial equipment are the priority areas to be granted.

The improvement of industrial systems, reducing energy losses in the enterprises of the municipal sector, reducing energy loss in homes will also be financed.

The project aims to help Ukraine to reduce energy intensity by 20 percent by 2015 and by half till 2030. It will also help to diminish Ukraine's dependence on imported gas and to mitigate the risks associated with energy supply security and energy costs reduce.

The maturity date of the loan is almost 30 years.

Now Ukraine has financial obligations to the World Bank amounting to about 7 billion dollars. The organizations held 38 financial transactions.

Source: Xinhua
BRICS Leaders Meeting 2011
Japan in aftershocks
  Weekly review  
May 12   No winners in U.S. hi-tech export controls
May 12   China should view livelihood issues from strategic perspective
May 11   Syria will not be another Libya
May 06   Beijing-Shanghai high-speed railway to launch 10-day trial run
May 14   The week in pictures
May 11   2000-year-old wine unearthed in Henan province
May 11   Scientist: China plans to build lunar research base
May 09   Apple employee, customer reach settlement after Beijing iPad brawl
May 12   Wenchuan Reconstruction: 'Chinese miracle' impresses world
May 12   No winners in U.S. hi-tech export controls


  • Do you have anything to say?


Special Coverage
  • 3rd Anniversary Of Wenchuan Earthquake
  • Third China-U.S. Strategic and Economic Dialogue
Major headlines
Editor's Pick
  • Photocall of "La Conquete" at Cannes
  • Split 660-year-old painting to be reunited in Taipei
  • British PM on first official visit to Ireland
  • Yemeni doctors call for resignation of President Saleh
  • CPC to institutionalize talks with European parties
  • Chinese vice premier meets UK financial regulator
Hot Forum Dicussion