The European Bank for Reconstruction and Development has increased more than twice the size of grants under IQ energy program, which is targeting energy efficiency rehabilitation of buildings. At the same time, the maximum amount of the grant available per one individual, remained unchanged totalling EUR 3,000.
During the press conference, Sevki Acuner, EBRD Country Director in Ukraine, recalled the objectives of the IQ energy program: "By decision to increase the size of grants up to 35% of the total loan amount we aspire not only to help the citizens of Ukraine to insulate and rehabilitate their houses, but also, which is much more important in the long run, to consciously shift to sustainable consumption of energy resources through the use of modern energy-efficient technologies."
Grants will be paid within 3 to 5 weeks after the electronic approval of the application. It will be available not only for the main equipment, but also for the related products, as well as the cost of installation works, if these were purchased on credit from the partner banks of the program together with the main equipment. Agreements on cooperation under the IQ energy program were signed with Raiffeisen Bank Aval, UkrSibbank and OTP Bank. The grants can also be obtained when purchasing goods using Raiffeisen Bank Aval or OTP Bank credit cards at the expense of loan funds.
The IQ energy Programme Manager Oksana Bulgakova presented a new category, eligible for grant funding – Heat recovery ventilation systems: "We expect that the new conditions and expansion of the Technology Selector will allow Ukrainians to rehabilitate their houses with high-quality materials that meet European standards and will help minimizing heat losses in the residential sector and increasing the level of comfort."
The new conditions are effective for the products purchased on credit from the IQ energy partner banks since July 11th, 2017.
Please note that we have also updated the IQ energy Terms and Conditions accordingly.
IQ energy was designed by the European Bank for Reconstruction and Development (EBRD) and supported by grant funding of up to €15 million from the Eastern Europe Energy Efficiency and Environment Partnership (E5P), to which the European Union is the largest contributor. Duration of the Programme: until 10/09/2020. The goal of the Programme is to provide financial support to energy efficient improvements in the residential sector of Ukraine.
The EBRD is the largest international financial investor in Ukraine. Since the beginning of operations in the country in 1993, the Bank has committed to provide nearly €12 billion in 369 projects.