The FINANCIAL — The European Investment Bank and the multi-donor Eastern Europe Energy Efficiency and Environment Partnership (E5P), which is partially funded by the EU, have signed grant agreements amounting to €16.4m to support higher education and municipal infrastructure in Ukraine.
A grant of €10m aims to improve energy efficiency in seven universities that are part of the Ukraine Higher Education project. This project focuses on the refurbishment of teaching, research and support facilities at a number of Ukraine’s state universities, the first seven of which will be in Chernihiv, Kharkiv, Kyiv, Lviv, Poltava, Sumy and Vinnytsia, according to the EU Neighbours portal.
A grant of €6.4m will support the modernisation of the municipality-owned district heating system in Kryvyi Rih in Southern Ukraine. The objective of the Kryvyi Rih project is to help to increase energy efficiency; reduce CO2 emissions and environmental impact with an expected decrease of carbon dioxide of more than 220,000 tonnes; and improve customer service.
E5P Fund Manager Anders Lund commented: “The two projects signed today will be one step toward increased energy security in Ukraine and will facilitate the daily life of ordinary people.”
The E5P multi-donor fund aims to encourage municipal investments in energy efficiency and environmental projects in the Eastern Partnership region. The fund merges financial contributions from the EU and a group of 21 nations, which are then used to leverage national funds and loans from international financial institutions.