Boosting residential energy efficiency in Ukraine

Launched in April 2016, the Ukraine Residential Energy Efficiency Financing Facility (IQ energy) promotes residential energy efficiency in a country which contains one of the largest housing stocks in Europe (over 10 million buildings).

IQ energy will be implemented through partner-banks UkrSibbank, OTP Bank and Megabank, which have a strong network of branches across Ukraine. The programme will be supported by an extensive energy efficiency awareness campaign.

Eligible borrowers under the programme will be able to receive loans for a wide range of energy efficiency measures. These may include: insulation of walls, roofs and ground floors; installation of modern energy-efficient windows, gas and biomass boilers; heat supply system upgrades; installation of solar thermal systems and many others. The E5P will provide grant funding of up to €15 million.

Almost two decades after signing the first energy efficiency project in the country, the EBRD remains one of the key financiers of the sector by committing more than one-third of its annual investments to this important cause.

Sector: Power and energy

EBRD investment: €75 million

Other benefits: Significant reduction in utility bills