Vinnitsa, Ukraine, April 26, 2011—IFC,
a member of the World Bank Group, is partnering with the city of Vinnitsa
to pioneer a project aimed at stimulating energy-efficient modernization
of the residential buildings in central Ukraine, which will help reduce
energy waste and greenhouse-gas emissions.
As the second-largest end-user of energy
in Ukraine after manufacturing, the residential housing sector has great
energy savings potential. IFC’s Ukraine Residential Energy Efficiency
Advisory Project will help Vinnitsa, a city of about 400,000 people, set
up a specialized knowledge-sharing center to work with representatives
of homeowner associations on technical, financial and legal issues.
“The agreement with IFC marks a milestone
for Vinnitsa as we are striving to build a modern and energy-efficient
municipal housing sector for our people,” said Volodymyr Groisman, Mayor
Elena Voloshina, IFC’s Head of Operations
in Ukraine, said: “Addressing climate change and supporting energy-efficient
modernization is our regional priority and a priority in Ukraine. The Vinnitsa
city administration already has some experience in implementing energy
efficiency projects and we are pleased to work jointly and launch the pilot
in the residential sector. We hope it will improve people’s everyday lives
and result in improved access to finance for residents of the multi-storied
To help Ukraine realize its energy efficiency
potential in the residential sector, IFC will work with banks to encourage
them to finance investment in the energy-efficient renovation of residential
buildings. IFC also will encourage banks to work with homeowner associations
and management companies to help them find economically attractive solutions,
and to work with the Ukrainian legislature to improve regulation related
to this market.
IFC’s Ukraine Residential Energy Efficiency
Project was launched in 2010 and is being implemented in partnership with
the Swiss Confederation.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.
The Project is supported with funds
from the Swiss Confederation. In 1997 the Swiss Confederation and Ukraine
signed a bilateral agreement for technical cooperation, in the framework
of which the Swiss Cooperation Office was opened in Kiev to coordinate
the cooperation programs in Ukraine. The Swiss support to Ukraine focuses
on Economic Development, Sustainable Energy Management, Reproductive Health,
Justice Reform and Decentralization. The yearly budget of the Swiss Cooperation
Programme in Ukraine exceeds CHF 10 mln. For more information, visit http://www.swiss-cooperation.admin.ch/ukraine/.