By KYIV. Nov 29 (Interfax-Ukraine) – The Energy Efficiency Fund and the International Finance Corporation (IFC) have entered into an agreement to allocate grants from the European Union in the amount of up to EUR25 million to repair apartment buildings damaged as a result of Russian military aggression against Ukraine.
The corresponding agreement was signed by the parties at the Kyiv Investment Forum in Brussels on November 28.
"This program launched by the Energy Efficiency Fund provides vital support to homeowners’ associations to help them restore buildings damaged by Russia’s military aggression. This is substantial support for many war-affected Ukrainians since the program will cover 100% of the cost of all construction materials and work. We are very grateful to our partners — the EU and the IFC — for their engagement and support, and we hope to continue our fruitful cooperation in this area," said Yehor Farenyuk, the director of the state-owned Energy Efficiency Fund.
"The IFC will support the Energy Efficiency Fund’s Restoration Program by channeling the EU grants to homeowners’ associations across Ukraine, covering the costs of restoring multifamily buildings that did not suffer structural damage. The program will cover the replacement of windows, doors, roofs, and walls, among other elements. The IFC will also help the fund with a pipeline of reconstruction projects as well as support beneficiaries with the application process," the IFC said on its website.
"Rebuilding efforts in war-torn Ukraine cannot and should not be stalled. We are grateful to the EU for their ongoing assistance, enabling us to provide vital support to Ukraine during these challenging times. We are committed to supporting Ukrainians and their efforts to restore residential and other economic sectors devastated by the war," said Rana Karadsheh, IFC’s Regional Director for Europe.
As part of IFC’s broader response to the war in Ukraine, in October, the IFC launched another EUR25 million EU-supported program to help municipalities to renovate municipally owned buildings to host internally displaced people.
