The Ministry of Community and Territorial Development is launching a new energy efficiency project in cooperation with the World Bank. The bank will provide $300 million for thermo-modernization in Ukrainian cities.

This was reported by RBC-Ukraine with reference to the agreement of the Minister of Community and Territory Development Alexei Chernyshov with the World Bank's Regional Director for Eastern Europe Arup Banerjee.

"We are talking about the modernization of the district heating sector, as well as water supply and sanitation. Today we are discussing the launch of a new project - $300 million will be allocated for energy efficiency measures in Ukraine. Thanks to this, the cities will be able to get more resources for thermo-modernization of schools, kindergartens, heating systems, as well as the provision of street lighting. The project will be a powerful contribution to the energy stability of our country. Energy efficiency is one of the key activities of the Ministry of Regional Development," said Minister Olexii Chernyshov.

Press service of the Ministry of Regional Development also notes that by the end of 2021, joint projects of the Ministry of Regional Development and the World Bank made it possible to reduce natural gas consumption by more than 27 million cubic meters, carbon dioxide emissions (CO2) - more than 45 thousand tons per year, and save more than 26 gigawatts of energy.

"Energy efficiency is critical to Ukraine's future. And we are happy to join the development of an energy-efficient Ukraine. The technical processes to prepare for the implementation of the new World Bank's municipal energy efficiency project in close cooperation with the Ministry of Regional Development should be completed by the end of spring 2022. I'm sure it will help Ukrainian cities to reduce their dependence on fuel and energy resources and contribute to Ukraine's ambitious climate change goals," added the World Bank's Regional Director for Eastern Europe.

Earlier, Minister of Community and Territory Development Olexii Chernyshov said that the Parliament ratified the agreement with the EIB on a loan of 300 million euros for a comprehensive thermo-modernization of public buildings.

Also, the Ministry of Regional Development signed new agreements with the EIB and the E5P Foundation within the framework of the project "Energy Efficiency in Public Buildings in Ukraine". This is a €4 million grant to Ukraine from the Eastern Europe Energy Efficiency and Environment Partnership (E5P) fund, as well as a €4 million technical assistance grant from the EU Neighbourhood Investment Platform (NIP).

In addition, an agreement was signed between the Cabinet of Ministers, the German state bank KfW, Zhytomyr and Zaporizhzhya City Councils as part of the implementation of the Energy Efficiency in Communities project.