VNTU AND 6 OTHER UKRAINIAN UNIVERSITIES RECEIVE 120 MILLION EUR TO ENHANCE POWER EFFICIENCY
The European Investment Bank will provide 120 million euros to enhance power efficiency at Ukrainian universities. This Financial agreement between Ukraine and the EIB was ratified by the Verkhovna Rada of Ukraine on November 8 The project was initiated and developed by the Ministry of Education and Science of Ukraine jointly with the EIB to help Ukrainian universities utilize power more efficiently. According to the agreement, the total cost of the project is 160 million euros. The EIB provides the loan in 120 million, the investment grant from the Fund of the Eastern Partnership in Energy Efficiency and Environment (E5P) is 10 million, and the North Environmental Finance Corporation (NEFCO) has agreed to loan the rest 30 million. Loan funds are given for 20 years with a 5-year grace period.

















