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    Energy Efficiency Fund of Ukraine

    Provides technical solutions and financial support for HOAs in implementation of energy efficiency measures. The Energy Efficiency Fund Program envisages partial compensation of the cost of comprehensive thermal renovation projects. Financing of the Energy Efficiency Fund comes from the state budget of Ukraine. The Fund is managed by the Supervisory Board of the Fund and by a team of managers from the Fund. The Supervisory Board of the Fund includes two members of the Government of Ukraine, independent members, and a representative of the Multi-Donor Trust Fund..

    Multi-Donor Trust Fund

    This represents the donor funds of the European Union and Germany managed by the International Finance Corporation (IFC). Funds from the Multi-Donor Trust Fund are allocated for cofinancing/partial compensation of the cost of comprehensive thermal renovation projects.

    Cabinet of Ministers of Ukraine

    The Cabinet of Ministers established the Energy Efficiency Fund with financing from the Ukrainian State Budget in cooperation with the International Finance Corporation (IFC) and with financial support from the EU and the Government of Germany, as well as with
    technical support from the UN Development Program in Ukraine and the German Agency for International Cooperation GIZ.

    European Union

    The EU is the main provider of grant funds for the implementation of the project in Ukraine. The funds provided by the European Union, together with funds from the Government of Germany, support the Multi-Donor Trust Fund. The latter transfers money to partner banks,
    thus ensuring constant grant disbursement to HOAs for thermal modernization.

    Government of Germany

    Germany is the second provider of grant funds for the implementation of the project in Ukraine. The funds provided by the Government of Germany replenish the Multi-Donor Trust Fund.

    International Finance Corporation – IFC

    The International Finance Corporation (IFC) implements a comprehensive program of consultative services aimed at supporting the Fund, management of donor contributions, and the creation of favorable market conditions for the energy efficient modernization of multi-
    apartment buildings in Ukraine. IFC has created a network of regional consultants to help HOA clients of the Fund. They will work in every oblast of Ukraine and will provide support to HOAs and local authorities for public outreach campaigns about the Fund and the issue of energy efficiency in the residential sector. The main task of regional consultants is to support local HOAs submitting grant applications
    and assist HOAs in the creation of financial solutions with the involvement of the Fund and the partner bank for the energy modernization of buildings.


    A team of consultants from the technical assistance project of the International Bank for Reconstruction and Development helps with the development of the internal procedures, interaction systems and operational principles of the Energy Efficiency Fund of Ukraine, as
    well as the program for the renovation of multi-apartment buildings based on the experience of European countries..


    German federal company Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) provides technical support in the development and testing of procedures used by the Energy Efficiency Fund of Ukraine. The GIZ Project assists the technical unit of the Energy Efficiency Fund and supports HOAs in the process of energy audits together with the creation of technical documentation and technical standards for thermal modernization projects.

    United Nations Development Program (UNDP) in Ukraine

    UNDP Project “Home Owners of Ukraine for Sustainable Energy Solutions” (HOUSES) provides technical support to the Fund. It incentivizes residents of multi-apartment buildings to switch to a more efficient form of ownership by establishing HOAs. The Project also
    encourages capacity building for both newly established and existing HOAs that will allow them to develop their own energy efficiency projects and submit applications for financing from the Energy Efficiency Fund of Ukraine.

    Partner Banks of the Fund

    Partner banks of the Fund are financial institutions that comply with the criteria of the IFC financial partner, have signed partner trilateral agreements with the International Finance Corporation (IFC) and the Energy Efficiency Fund of Ukraine, and are prepared to create a special banking product to ensure maximum service for the HOA clients of the Fund. Partner banks of the Fund are the first point of contact for HOAs in the process of project implementation. In addition to issuing loans, they will advise the HOAs on the documentation necessary to receive a grant.