The European Bank program will be available even for ordinary citizens, ubr.ua reports.

The European Bank for Reconstruction and Development (EBRD) signed agreement with three Ukrainian banks (OTP Bank, Megabank, Ukrsibbank) on cooperation in realization of the program for financing energy efficiency and housing sector of Ukraine IQ energy.

The total volume of project financing will be EUR 75 mln. The program is supported by grant financing (EUR 15 mln) from the Fund of Eastern European Partnership on Energy Efficiency and Ecology (E5P), the largest donor of which is the European Union.

The loan funds will be used for covering up to 20% of the loan amount for individual borrowers and up to 35% for condominiums. In addition, technical aid, financed from funds of E5P and Swedish International Development Authority (SIDA) is expected to be obtained for realization of program.

IQ Energy program is available not only to condominiums, but also to separate households. Of course, it is expected that they will apply high efficiency technologies, which will allow to raise indicators of energy efficiency by 20% and more (and significantly reduce expenses for utility services).

The borrowers, meeting EBRD criteria, will be able to obtain loans for realization of the whole list of measures on energy efficiency, in particular, thermal insulation of walls, roofs and floors of first levels; installation of modern energy-efficient windows, gas boilers and biomass boilers; modernization of heating systems; installation of heating system etc.

Meanwhile, concrete programs with account of individual needs of users can be selected at www.iqenergy.org.ua. Individuals will also be able to submit applications for obtaining grant funds through this web-site. E5P representative Andres Lund estimated that average Ukrainian will be able to obtain about EUR 3 ths, which will repay principal of the loan.

“In spite of some decrease of energy output for the last decade, Ukrainian economy remains one of the least energy efficient among all countries of EBRD transactions and heavily depends on import energy resources. And the largest consumer is the housing sector (10 mln buildings), for which more than 33% of the total volume of energy consumption in Ukraine account. Considering this, IQ Energy Program will not only ensure extremely needed financing in time, but will also help to totally change the picture of energy consumption in housing sector”, - EBRD Director for Ukraine Shevko Adzhuner said.

EBRD is the largest international financial investor in Ukraine. As of mid-March 2016, the bank undertook obligations on provision of EUR 11 bln within 363 project in the country.