Kiev, Ukraine, Feb 9, 2012—IFC,
a member of the World Bank Group, today agreed with Ukraine’s Ministry
for Regional Development to help promote energy-efficient renovation in
the country’s residential sector to reduce energy waste and greenhouse
IFC and ministry experts will work together on legislative changes to enable
local homeowner associations and housing management companies to access
finance to improve energy efficiency in multi-family residential buildings.
They will also launch an awareness campaign to promote best practices in
financing residential energy-efficiency projects.
“Energy-efficiency reform in the residential sector starts with real ownership
and good management practices,” said Anatoly Bliznyuk, Ukraine’s Minister
for Regional Development. “With IFC’s expert advice we hope to change
the situation for the better and make 50 percent energy loss in Ukraine’s
residential sector a thing of the past.”
The housing sector in Ukraine consumes approximately 25 percent of the
country’s electricity and 40 percent of its heat-energy resources. The
country’s housing stock is old and inefficient, and poorly insulated buildings
can lose from 30 to 50 percent of their heat to the environment. IFC’s
new agreement with Ukraine will help turn that situation around.
“Investments with simple payback terms can result in heat-energy savings
of 30 to 40 percent, and the reduction of gas consumption by 25 to 30 percent,”
said Rufat Alimardanov, IFC’s Country Manager for Ukraine and Belarus.
“However, many homeowner associations lack awareness of the economic benefits
of such investments. We are working with the government, local banks, and
homeowner associations to boost modernization of the residential sector.”
The IFC Ukraine Residential Energy Efficiency Project was launched in 2010
and is being implemented in partnership with Switzerland’s State Secretariat
for Economic Affairs, SECO. The project is helping Ukraine reduce its greenhouse
gas emissions by one million tons, equivalent to the country’s emissions
from three days’ electricity consumption.
The project also will help to achieve Ukraine’s targets to reduce energy
intensity by 20 percent by 2015, and by 50 percent by 2030. It will
also contribute to decreasing Ukraine’s dependence on imported gas, mitigating
energy supply security risks and decreasing the cost of energy supply.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, providing
advisory services to businesses and governments, and mobilizing capital
in the international financial markets. In fiscal 2011, amid economic uncertainty
across the globe, we helped our clients create jobs, strengthen environmental
performance, and contribute to their local communities—all while driving
our investments to an all-time high of nearly $19 billion. For more information,
For more information about SECO, visit www.seco.admin.ch