EBRD Continues to Support Energy Efficiency in the Ukraine

Raiffeisen Bank Aval joining the EBRD sustainable energy lending framework in Ukraine

The Financial, February 26, 2014

The European Bank for Reconstruction and Development (EBRD) is continuing its efforts to develop sustainable energy sources and to promote energy efficiency in Ukraine , with a new US$ 100 million financing programme, according to Raiffeisen Bank Aval.

The EBRD’s Sustainable Energy Financing Framework was approved by the Bank’s Board of Directors at the end of 2013, and aims to inject new skills into the energy sector in Ukraine , backed by project financing via the domestic banking network. By promoting investment in energy efficient technologies the project will help Ukraine gradually reduce its overall energy requirements and improve the environment.

Raiffeisen Bank Aval – a long-term financial partner of the EBRD in Ukraine – is the first bank to sign up to the new framework, with financing from the EBRD of US$ 20 million.

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