New financial instrument to help Ukraine’s industrial companies access to capital for implementation of energy management systems

New financial instrument to help Ukraine’s industrial companies access to capital for implementation of energy management systems

VIENNA, 30 June 2020 - The United Nations Industrial Development Organization (UNIDO) and Public Joint-Stock Company Joint Stock Bank (UkrGasBank) have signed a contract that will enable the launch and operation of a US$1.5m Loan Guarantee Fund as special financial mechanism within the framework of the UNIDO-GEF project, Introduction of Energy Management System Standard in Ukrainian Industry.

Supported by national stakeholders, and facilitated by Citibank Europe PLC, the Loan Guarantee Fund aims to help industrial companies access capital for the implementation of energy management systems in line with ISO 50001 and other energy efficiency measures. The Loan Guarantee Fund is the first guarantee-based financial mechanism launched by a UN agency with a selected financial partner in Ukraine.

The Loan Guarantee Fund is expected to play an important role in boosting activities and the further development of Ukraine’s market for industrial energy efficiency.

UNIDO believes that it is especially important to have such a financial instrument available for Ukrainian industries during this COVID-19 recovery times to support them with additional resources that can be dedicated to improve assets optimization and bottom-line performance through energy efficiency, and ultimately help restore and strengthen business competitiveness.  

For more information, contact:

Marco Matteini, Department of Energy, UNIDO

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