Groysman: Energy Efficiency Fund to be launched in 2017

Ukrainian Prime Minister Volodymyr Groysman expects that the Energy Efficiency Fund will start working in Ukraine as early as 2017, and in this regard it is necessary to take the whole regulatory framework before the end of this year.
”I`d really like that we decide to set up an Energy Efficiency Fund, to create it before the end of 2016 and launch in 2017. This will enable us to invest more resources, to be more efficient and competitive,” Groysman said, opening the Energy Efficiency Forum in Kyiv.
He stressed that the amount of subsidies would eventually need to be turned into investments in the energy sector.
”The energy sector can create up to 50,000 jobs. And I think that the potential is much bigger there. And together with MPs, we must develop a regulatory framework, which has to be adopted no later than the third or fourth quarter of this year,” Groysman said.
According to him, the Fund will accumulate UAH 20 billion from international donors, the state budget and private investors in 2017.
”We think that at least UAH 20 billion can be accumulated in 2017, which can be reinvested in energy efficiency,” he said.
Groysman also noted that after the formation of an effective structure of the Fund, international donors will be able to support it financially.
”I believe this is just the beginning. We need to create the fund system to be effective and non-corrupt. I believe that it will be tens of billions of resources that can be invested. The European Union has said it will support the fund,” he said.

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