In September 2009, NEFCO and the Ukrainian government signed a framework agreement, which formally acknowledges NEFCO’s status as an international financial institution operating in Ukraine. The agreement enables NEFCO to directly implement energy saving projects with Ukrainian municipalities.
This launch coincides with a related seminar, which is being held in Lviv in the western part of Ukraine. The seminar, which is being co-hosted by NEFCO and the Norwegian company Reinertsen AS, signals the start of a training programme, which is intended to educate local consultants, civil servants and energy specialists on how to draft and prepare business plans and energy audits for municipal energy saving projects.
“Today’s seminar is a good starting point for our energy saving programme in Ukraine, and we are ready to finance the first municipal-level pilot projects in the Lviv region. The projects selected under the programme will be jointly financed by the municipality and NEFCO’s energy saving credit facility,” says NEFCO’s Senior Manager, Elisabet Paulig-Tönnes.
NEFCO has so far approved EUR19 million finance for 29 projects valued at EUR55 million in Ukraine. The projects have mainly been in the energy, agricultural, industrial and banking sectors. The Ukrainian loans currently account for 7.9% of funds disbursed by NEFCO’s two financial instruments; the Investment Fund and the Nordic Environment Development Fund.
