On April 23, 2019, in Kyiv, the UNDP Project «Removal of barriers to attract investments in increasing energy efficiency of public buildings in small and medium cities of Ukraine based on the ESCO model» together with the State Agency for Energy Efficiency organized and conducted the round table «ESCO-lending ESCO-insurance». The event was organized with the aim of expanding the application of the energy service mechanism and overcoming financial barriers to the development of the ESCO market.
Within the framework of the round table, a number of issues were considered regarding scaling of energy service, removing barriers regarding the accessibility of financial resources, and minimizing the risks of ESCO contracts, proposals on improving legislation, the successful experience of ESCO-lending, risks and features of projects for banks; recommendations were given to banks and ESCO for scaling lending, the experience of implementing the first insurance ESCO product was considered, and recommendations were given for insurance companies.
The participants of the round table as speakers were the Chair of the Management Board of JSC «CIB», Tetiana Putintseva, and the Director of the Department of Factoring, Documentary Operations, and Trade Finance, Dmytro Chornyi, who shared the successful experience of financing ESCO projects and provided their recommendations to banks and ESCO companies for large-scale lending.
We remind you that Joint-Stock Company «Commercial Industrial Bank» has developed the most optimal model of financing ESCO projects using factoring. The principal achievement is that this model allows providing financing without pledged property.
Joint-Stock Company «Commercial Industrial Bank» and the United Nations Development Programme (UNDP) cooperate in the sphere of financing energy efficiency and renewable energy programs. In January 2019, a Memorandum of partnership was signed between JSC «CIB» and UNDP. Within the framework of the signed document, the parties implement the project «Removal of barriers to attract investments in increasing energy efficiency of public buildings in small and medium cities of Ukraine based on the ESCO model». The aim of the project is the implementation of European energy consumption standards and the creation of comfortable conditions of stay in public buildings. The parties carry out information-consulting, expert-analytical, other cooperation and coordination of actions for the implementation of joint projects, programs, measures aimed at the development of energy saving, energy efficiency, «green» energy, and the building of necessary infrastructure in these spheres.
