EBRD celebrates achievements of residential energy efficiency programme in Ukraine
EBRD, Kyiv, Ukraine,
Wed, Nov 14, 2018
- EBRD awards best energy efficiency performers under IQ energy
- IQ energy is a landmark programme supported by E5P, EU and Sweden
- 27 energy efficiency and renewable energy performers awarded
Recognising excellency in energy efficiency and renewables the EBRD and its partners has awarded the best performers under its IQ energy programme in a ceremony in Kiev today.
The EBRD-led programme is supported by the Eastern Europe Energy Efficiency and Environment Partnership (E5P) * Fund for Ukraine in which the European Union (EU) is the largest contributor, and technical assistance funding is provided by E5P and Sweden in equal shares.
The awards were presented to selected companies, banks and green technology suppliers for their outstanding efforts in promoting the green economy in Ukraine. In total 27 prizes were awarded to recognise the successful completion of projects such as the first financing of a homeowners’ association for a multi-storey apartment building or outstanding sales performances.
The event was attended by representatives of the Ukrainian government, the donor community, local authorities, international institutions, the diplomatic community as well as EBRD partner banks and local companies.
Launched in 2016 by the EBRD as the Ukraine Residential Energy Efficiency Financing Facility, the programme today now known as IQ energy is a €15 million grant framework designed to finance energy efficiency and renewable energy projects in the residential sector in Ukraine. To date it has supported around 35,000 Ukrainian households that took out loans from local commercial banks for green technology investments for their homes.
IQ energy follows the model of the EBRD’s Green Economy Financing Facility (GEFF) that operates through a network of more than 130 local financial institutions across 24 countries supported by almost €4 billion of EBRD finance for 120,000 clients. These projects have led to annual CO2 emission reductions of over almost 7 million tonnes.
* The Eastern Europe Energy Efficiency and Environment Partnership (E5P) is a €200 million multi-donor fund managed by the EBRD and designed to promote energy efficiency investments in Ukraine and other eastern European countries. The fund was established under an initiative of the Swedish government during its presidency of the European Union (EU) in 2009. E5P complements energy efficiency loans provided by financial institutions including the European Bank for Reconstruction and Development, the European Investment Bank, KfW, the Nordic Environment Finance Corporation and the World Bank Group. Contributors to E5P are the EU and the USA, as well as Denmark, Estonia, Finland, Germany, Iceland, Ireland, Latvia, Lithuania, Norway, Poland, the Slovak Republic, Sweden, Switzerland and Ukraine.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. The Bank is owned by 67 countries as well as the EU and the EIB. EBRD investments are aimed at making the economies in its regions competitive, inclusive, well-governed, green, resilient and integrated. Follow us on the web, Facebook, LinkedIn, Instagram, Twitter and YouTube.