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. On January 14, 2019, a Memorandum between JSC «CIB» and UNDP was signed. Within the framework of the signed document, the parties are to 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 will 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.
«Ukraine is one of the energy-dependent countries of Europe, which consumes more than 60–70% of imported energy resources. The inefficient use of energy resources also contributes to this, which threatens the national interests and national security of the country. Therefore, the solving of energy saving and energy efficiency issues is one of the priority ones. Today, the priority direction in Ukraine is the implementation of advanced energy-efficient technologies. For the fulfillment of these tasks, we need to coordinate and unite our efforts. With this aim, we signed a Memorandum of cooperation. The implementation of the Project will contribute to increasing energy efficiency in Ukraine, which will strengthen the energy independence of the state», - reported the Chair of the Management Board of JSC «CIB», Tetiana Putintseva.
Also, within the framework of the implementation of 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», between JSC «CIB» and the company "KYIVESCO", the first factoring agreement in the country was concluded, under which energy service agreements are financed.
It is worth noting that the State Agency for Energy Efficiency and Energy Conservation of Ukraine for three years was looking for acceptable means of financing ESCO contracts. And it is with the support of UNDP specialists, together with Joint-Stock Company «Commercial Industrial Bank», that the most optimal model was developed. The principal achievement is that this model allows providing financing without pledged property. And now finally this financial instrument for the implementation of the possibility of financing energy service has started working in Ukraine.
The implementation of the first factoring of energy service agreements in Ukraine opens the opportunity for other ESCO companies to master this experience and even more actively implement the ESCO mechanism in the budget sphere.
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