Business News

Ukraine focus for new energy efficiecy programme

Nov 26, 2009, 14:12 GMT

Stockholm - The European Commission and several other donors Thursday launched an energy efficiency programme to fund projects in eastern Europe beginning with Ukraine. 'We expect commitments to the support fund of around 100 million euros (150 million dollars) from 12 donors including the Ukraine and the European Commission,' Swedish International Development Cooperation Minister Gunilla Carlsson told reporters. These funds were to be combined with loans from international financial institutions like the World Bank. The programme included expanding district heating in Ukraine but could also include other energy and environmental measures. Estimates suggest Ukrainans use three times as much energy per person as in Central Europe. 'Energy efficiency is indeed the cheapest and maybe the most environmentally sound way to solve energy security problems,' said Benita Ferrero-Waldner, European Commissioner for external relations and European neighbourhood policy. Ukraine Deputy Prime Minister Hryhoriy Nemyria said the project would combine measures to tackle climate change, and improve energy efficiency and competitiveness. Sweden took the initiative to the programme to be known as Eastern Europe Energy Efficiency and Environment Partnership. Other donors include Denmark, Estonia, Finland, Lithuania, Norway, Poland, Sweden and the United States along with financial institutions like the European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD).

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Ukraine focus for new energy efficiecy programme

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