MINISTRY OF REGIONAL DEVELOPMENT, CONSTRUCTION AND HOUSING AND COMMUNAL SERVICES OF UKRAINE, Government portal reports.

The Energy Efficiency Fund will become one more effective tool, except for the “heating loan” program and IQ energy program, allowing citizens to receive compensations under loans for heating modernization – Vice-Prime-Minister, Minister of Regional Development, Construction and HCS of Ukraine Hennadii Zubko said during his speech at the panel: “Where to find money for reforms? The monetization of subsidies, loans, donor aid” within the framework of Energy Efficiency Fund Forum. Key START-UP of Ukraine” on June 23.

According to him, the purpose of the Fund, except for compensation mechanisms, consists in providing citizens with technical solutions for heating modernization. He named three sources of financing the programs of the Fund. “Funds will be attracted, in particular, from the state budget. The Budgetary Code should stipulate the consistency of expenses with subsidies and energy efficiency. If we include UAH 42 bln for subsidies, then 10% of this amount should be also be envisaged for energy efficiency needs. In addition, there is a decision of our partners from the Government of Germany and EU regarding their readiness to finance Fund’s projects. The third important source will be energy investments of citizens at the expense of monetized balance of subsidies”, Hennadii Zubko said.

Therefore, according to him, Ukraine will ensure the European system of financing of the Energy Efficiency Fund. “The citizens will also have opportunity to obtain bank funds as the long-term cheap loans. We are working in order these banking services for citizens become competitive and more affordable”, Hennadii Zubko noted.