Almost 6,000 energy efficiency loans disbursed for Ukrainian households over week

Tuesday, June 7, 2016 - 14:40 (EEST) Section: Latest news

About 5,836 energy efficiency loans worth a total of UAH 98.2 million were disbursed for Ukrainian households from May 30 to June 6, 2016, the press service of the State Agency on Energy Efficiency and Energy Saving SAEE reported.
It is noted that last week 223 loans worth UAH 3.8 million were allocated for the Ukrainian households for installation of boilers operating on alternative fuels in the framework of state measures aimed at compensating part of the principal amount of loans. Over 5,600 loans worth UAH 92.5 million were provided for energy-efficient equipment and materials. In addition, nine loans to the tune of UAH 1.9 million were disbursed for condominium associations.
According to the press service, Ukrainian families that receive subsidies and can get up to a 70% reimbursement of the principal amount of loans from budget funds have purchased energy efficient materials for the amount of UAH 56.7 million.
As UNIAN reported earlier, in May 2016 banks provided UAH 290 million worth of energy efficiency loans for Ukrainian households, corresponding to the volume of funding provided in October-November last year, during the peak of the program implementation.
In early April 2015, the Ukrainian government adopted a program aimed at compensating 20%-40% of the cost of loans for energy efficiency measures. The program`s budget amounted to UAH 1.57 billion. In February of the current year, the Cabinet of Ministers extended the program through 2016, having earmarked UAH 900 million in funds for this purpose.
The funding mechanism of ”warm” loans involves a refund of 20% of the loan amount (but not more than UAH 12,000) for households to carry out replacement of gas boilers, a 30% refund of the loan amount (but not more than UAH 14,000) for individuals on energy efficient equipment and materials, a 40% refund of the loan (but not more than UAH 14,000 per apartment) for condominium associations and housing construction societies on energy-efficient equipment and materials. A 70% compensation of the loan amount is envisaged for citizens that receive subsidies.
Local authorities also get involved to the program seeking to ensure own sources to compensate part of the loan amounts or interest for the implementation of energy efficiency measures.