Rivne will receive UAH 12.5 million from NEFCO for thermal modernization
Rivne will receive UAH 12.5 million from NEFCO for thermal modernization

In the city of Rivne, the implementation of the project "Implementation of energy-saving technologies in the educational institution of Rivne" will soon begin, with the financial support of the international organization of the Northern Environmental Finance Corporation NEFCO. This is the second project to be implemented in the city together with NEFCO. The project envisages the introduction of innovative measures of complex thermal modernization in the educational complex № 26.

Rivne City Council received approval from the Ministry of Finance of Ukraine (Order of the Ministry of Finance № 820 of 11.10.2018) to attract funding from NEFCO.

This issue was also supported by the deputies of the city council at the regular session, which took place on October 18, 2018.NEFCO provides financial support for environmentally important projects in Central and Eastern Europe, but has strict requirements for their selection.

The main criteria for selecting an object to participate in this project were energy costs. That is, they chose the most energy-intensive educational institution, and for which an energy audit was developed.

The total cost of the project is UAH 22 million. The amount of funds raised from NEFCO is UAH 12.5 million, at an interest rate of 3% per annum in UAH, which is a very favorable lending condition, with the current 10-15% inflation. Especially since the loan is provided and, accordingly, repaid in UAH.

The project provides great opportunities for our city. Its implementation will help improve the climate in the premises of the educational institution, working and study conditions will be comfortable. And this is only an aesthetic benefit of the project. Another is the saving of energy resources, because the implementation of energy efficiency measures will save about 30% of energy and reduce expenditures from the city budget to pay for them.

Cooperation with international organizations strengthens trust in the government and will allow in the near future to attract significant financial resources for the development of the city of Rivne.