The First Loan for a Condominium Association from the Ukrainian Decarbonisation Fund
As part of the cooperation between the Ukrainian Decarbonisation Fund and the Energy Efficiency Fund, the first agreement on state aid for the energy modernization of a multi-apartment building in the city of Lutsk has been signed.
“The project provides for a comprehensive energy modernization of the building — façade insulation, roof waterproofing and thermal insulation, as well as the replacement of exterior doors in common areas. Residents will benefit from greater comfort, safety, and significant savings on utility costs,”
said Hanna Zamazieieva, Head of the State Agency on Energy Efficiency and Energy Saving of Ukraine (SAEE).
According to the results of the energy audit, after modernization, residents will be able to save over UAH 682,000 annually on energy costs. This will allow households to significantly reduce their utility expenses and decrease energy consumption — a particularly important step given the ongoing strain and challenges facing Ukraine’s energy system.
Another important component is support for Ukrainian manufacturers. Domestic materials will be used for the building’s insulation, meaning that every element of the project — from insulation materials to fasteners — helps strengthen the national economy.
The total project budget amounts to UAH 12.7 million, of which:
30% — a preferential loan from the Ukrainian Decarbonisation Fund;
70% — condominium (HOA) funds reimbursed by the Energy Efficiency Fund under the “Energodim” (Energy House) program.
Yehor Farenyuk, Director of the Energy Efficiency Fund, emphasized:
“Thanks to our partnership with the Ukrainian Decarbonisation Fund, condominium associations now have even more financial opportunities to participate in the ‘Energodim’ Program. There is no reason to postpone energy modernization — now is the time to act. Only together can we make our cities and buildings energy-efficient, safe, and resilient to today’s challenges.”
Loan terms for condominium associations (HOAs):
Interest rate: 9% per annum
12-month grace period for repayments
Loan term: up to 10 years
Financing share: 30% of the project cost (the remaining 70% is reimbursed by the Energy Efficiency Fund after implementation of measures under the “Energodim” Program)
For more information on financing energy efficiency projects, visit the official website of JSC “Ukrainian Decarbonisation Fund”: https://fdu.com.ua/