EBRD launches energy efficiency program in Ukraine

20:25, November 30, 2010      

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The European Bank for Reconstruction and Development (EBRD) has launched in Ukraine an assistance program designed to promote the country's residential energy efficiency, bank's office said in a statement on Tuesday.

"Once implemented, such investments may result in energy savings of over 60 million MWh per year - an equivalent of almost 10 billion cubic meters of imported natural gas or 25 percent of all Ukraine's natural gas imports," a statement said.

Ukraine has one of the largest housing stocks in Europe and could potentially absorb energy efficiency investments worth around 60 billion euros, according to the statement.

The program will examine issues related to legal and regulatory framework, general awareness, capacity and low penetration of energy efficient technologies in the country, the bank said, adding "the program will also prepare legislation necessary for energy efficiency investments into the sector."

Earlier, EBRD's Director in Ukraine Andre Kuusvek said the energy and agriculture were the key sectors for the bank to invest in Ukraine in a period from 2012 to 2014.

Ukraine is EBRD's second largest country in terms of investment.

Source: Xinhua


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