Partnership supports energy efficiency in Ukraine

NIB will take part in an international energy and environmental partnership for Eastern Europe.

The aim of the Eastern Europe Energy Efficiency and Environment Partnership is to bring about sustainable and long-term climate change achievements. The partnership will initially focus on energy efficiency and environmental projects in Ukraine

“With Ukraine geographically being so close to NIB’s member countries and Ukraine being one of the least energy efficient countries in Europe, an improvement will also have a large and direct impact on NIB’s member countries,” says Søren Kjær Mortensen, Senior Director and Head of NIB’s Non-Member Lending.

Projects expected to be carried out within the framework of the new partnership concern, for example, improved energy efficiency in district heating, waste water treatment, and waste management, including waste to energy projects.

In 2009, NIB was actively involved in establishing the partnership and will also provide financing and lead bank resources for related projects.

”It was natural for NIB to take up the proposal from the Swedish government to join in on the establishment of this new partnership. The structure very much resembles the NDEP partnership, where NIB for several years has been acting as one of the lead banks,” says Mr Mortensen.

Other international finance organisations and international institutions have been brought into the partnership, including the EIB, the EBRD, the WB, IFC, NEFCO, as well as the EU Commission and the Swedish government. A donor conference in November 2009 raised some EUR 90 million from European countries, the EU Commission and the United States. Additional funds are expected from a number of other countries as well.

The partnership, initiated by the Swedish government, enjoys strong political support, especially from the Baltic countries, Denmark and Norway.