EIB will help support energy efficiency in Ukraine

The EU’s long-term lending bank, the European Investment Bank (EIB), will be instrumental together with the EBRD in supporting an energy efficiency project in Ukraine. An EIB press release said the Multilateral Carbon Credit Fund (MCCF), set up by the two European banks, had agreed to buy carbon credits resulting from a project involving equipment rehabilitation for the Ivano-Frankivsk Teplokomunenergo State Municipal Enterprise.

Teplokomunenergo, which is the main heat and hot water supplier to Ivano-Frankivsk in Western Ukraine, will benefit from the project that foresees the use of biomass for heat and power production, alongside rehabilitation of existing boiler equipment.

The press release said carbon credits the MCCF had pledged to buy would be generated from the Joint Implementation (JI) mechanism under the Kyoto Protocol.

Participants of the Multilateral Carbon Credit Fund include governments of Finland, Belgium (Flanders), Ireland, Luxembourg, Spain and Sweden, as well as five private sector participants. (ENPI Info Centre)

Press release
ENPI Info Centre - Council backs decision to unlock ?2 billion for EIB climate loans outside EU
ENPI Info Centre webpage - Energy
ENPI Info Centre webpage - ENPI regional projects Ukraine

Source: ENPI