13/06/2024

The state-owned Ukreximbank and the Green for Growth Fund (GGF) signed the Letter of Intent for the development of the “green” economy of Ukraine.

“Supporting business and its energy independence are important factors of the financial stability of our country. At the same time, preservation of the environment will be an integral part of the post-war recovery. The war teaches us to value freedom, and for many businesses today, being free means being energy independent. We value our cooperation with the GGF. Despite the war, the fund continues to support Ukrainian business, offering sustainable solutions in the field of green economy”, said Oleksandr Shchur, Member of the Management Board of Ukreximbank.

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The state-owned Ukreximbank has significant experience in the implementation of joint projects for financing industrial energy efficiency and renewable energy programs. The results of the work have been favourably evaluated by influential national and foreign institutions, international financial institutions, including the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank.

The Green for Growth Fund (GGF) is part of the EU4Energy initiative and invests in measures aimed at reducing energy use and CO2 emissions, as well as improving resource efficiency in 19 markets, including the Eastern Partnership region.

The GGF was initiated as a public-private partnership in December 2009 by KfW, the German Development Bank, and the European Investment Bank with financial support of the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and OeEB, the Development Bank of Austria.

The task of the fund is to increase energy efficiency and resource efficiency, as well as to expand the use of renewable energy sources in neighbouring countries.