Germany ready to allocate 40 million euro for Ukraine’s energy modernization
The German Government is ready to provide 40 million euro to Ukraine for its energy modernization projects, stated the press-service of the Ministry of Economic Development and Trade following negotiations with German representatives.
"New projects are being prepared that will contribute to the energy modernization of Ukrainian industrial enterprises to reduce the emission of greenhouse gases, to use resource-saving concepts when designing, constructing and maintaining buildings, to create prerequisites for the system of quotas for emissions of greenhouse gases,” the statement reads.
Germany could also fund initiatives of the Ukrainian Government in energy reform. During the meeting on September 28, 2018, Ukraine received proposals regarding its energy efficiency and sustainable economic growth, in the amounts of 10.6 million and 6 million euro in assistance, respectively.
"The assistance provided by Germany agrees with the medium-term government plan and helps to facilitate the implementation of reforms in energy efficiency, according to the EU Directive on “Energy efficiency,” in investment projects on reconstructing substations,” the Ministry noted.
Last April, Ukraine and EU signed an agreement worth 50 million euro for the Energy Efficiency Fund. In September, the European Union will allocate a 54-million-euro tranche for Ukraine’s Energy Efficiency Fund. The Fund will start accepting applications for the residential energy efficiency upgrades in March 2019.