The Energy Efficiency Fund of Ukraine
The Energy Efficiency Fund of Ukraine provides technical solutions and financial support to HOAs for the implementation of energy efficiency measures and to implement of other programs in the residential sector (in particular for the restoration of buildings destroyed or damaged as a result of the armed aggression of the russian federation against Ukraine). Beginning September 2019, the EEF implements the Program for support of energy modernization of multi-apartment buildings ‘ENERGODIM’. And, starting November 2022, the EEF launched a new grant program called ‘VidnovyDIM’, which aims to finance construction works to restore residential buildings damaged as a result of the military aggression of the russian federation.
The EEF’s activities are funded from the State Budget of Ukraine and financial support from the EU and German government. The EEF is managed by the Supervisory Board and the management team. The EEF’s Supervisory Board includes two members of the Government of Ukraine, independent members, as well as 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.
The Cabinet of Ministers of Ukraine created the Energy Efficiency Fund, which is financed by the State Budget of Ukraine in cooperation with the International Finance Corporation (IFC) and with the financial support of the EU and the German government, as well as with the German Society for International Cooperation (GIZ).
The European Union 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 funds to partner banks, ensuring the constant provision of HOA grants.
the Federal Government of Germany is the second provider of grant funds for the implementation of the project in Ukraine. Funds provided by the German Government fill the Multi-Donor Trust Fund.
International Finance Corporation – IFC
The International Finance Corporation (IFC) is implementing a comprehensive program of advisory services aimed at supporting the EEF, managing donor contributions and creating favorable market conditions for energy-efficient modernization of apartment buildings in Ukraine.
The German federal company Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) provides technical support in the process of developing and testing the procedures of the Energy Efficiency Fund. In particular, the GIZ project helps the technical department of the Energy Efficiency Fund and supports HOAs in the process of conducting energy audits, creating technical documentation and technical standards for thermal modernization projects
The EEF’s partner banks are financial institutions that meet the IFC’s financial partner criteria, have signed a tripartite partnership agreement with the International Finance Corporation and the Energy Efficiency Fund and are ready to create a special banking product that will provide maximum service for the EEF’s clients – HOAs. The EEF’s partner banks are the first contact of HOAs in the process of implementing the project and, in addition to providing a loan, they will advise HOAs on the collection of documentation necessary for obtaining a grant.