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Ukraine: New agreement to boost energy efficiency investments in universities

December 21, 2017

On 19 December, the Ministry of Finance of Ukraine and Nordic Environment Finance Corporation (NEFCO) signed a € 30 million loan agreement for an EU-supported project on higher education in Ukraine, implemented within the Eastern Europe Energy Efficiency and Environment Partnership (E5P).

The project foresees the refurbishment of universities in several Ukrainian cities to improve their energy efficiency and reduce their greenhouse gas emissions. The initial phase of the project will involve seven universities in Chernihiv, Kharkiv, Kyiv, Lviv, Poltava, Sumy and Vinnytsia. The work is expected to start in 2018 and be completed by the end of 2022.

The improvements are expected to extend the life cycle of the buildings by an average of 30 years and to substantially reduce energy consumption and CO2 emissions, as well as helping to save costs.

The E5P is a multi-donor fund to encourage municipal investments in energy efficiency and environmental projects in the Eastern Partnership region. The fund merges financial contributions from the EU and a group of 21 nations, which are then used to leverage national funds and loans from international financial institutions.

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