Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

18 Nov 1997



PSD disclosed:

16 Apr 1997


Project Description

To establish the first energy service company (ESCO) in Ukraine. UkrEsco will be state owned and financed by a sovereign loan of US$ 30 million from the EBRD.

Project objectives: To identify and implement energy-saving investments in small and medium-sized enterprises (SMEs) and public sector institutions and to encourage the development of broader ESCO activities in Ukraine.

Transition Impact

The project will: (i) demonstrate to potential clients the possibilities for reducing energy costs where businesses are run on a sound commercial basis; and (ii) encourage private sector investors to develop ESCO activities in Ukraine.

The Client

The borrower will be Ukraine. The implementing agency will be the State Committee of Ukraine for Energy Conservation.

EBRD Finance

The EBRD will provide a sovereign loan of US$ 30 million (ECU 25.5 million).

Project Cost

Total project cost is anticipated to be ECU 34.1 million, financed from the EBRD loan and technical assistance funds.

Environmental Impact

The project will introduce modern technology and energy management practices in SMEs. UkrEsco investments will help to realise energy savings on its clients' premises. These projects will not only reduce energy wastage by introducing efficient technologies, but will also reduce the generation and release of energy-related pollutants, such as SO2, NOx, dust, and CO2. This is of direct environmental and health and safety benefit for local residents, and will also help to reduce the large overall volume of pollutants resulting from energy use in Ukraine.

Technical Cooperation

Technical cooperation funding of ECU 6 million is being provided.


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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