MFSI-II Cooperation with Zhytomyr

City of Zhytomyr Signs Eur 300 000 Agreement with Project Help

  The city of Zhytomyr will implement another energy saving project.  The city has had a longstanding cooperation with the Municipal Finance Strengthening Initiative Project Roll-out (MFSI-II) and with MFSI before that.
In the process of its fruitful work with the municipality, the MFSI-II Project has assisted in drafting City Rada resolutions, applications to the Ministry of Finance of Ukraine for obtaining borrowing approvals, as well as other essential documents.
  This collaboration has now resulted in the signing of a credit agreement between the City of Zhytomyr and NEFCO worth EUR 300,000 for financing energy efficiency measures. The funds will be used to revamp the city’s street lighting system and refurbish municipally owned buildings with more efficient insulation systems and heat exchangers.
  The project is expected to translate into savings of some 560 megawatts of electricity and 360 megawatt hours of thermal energy per year for the city. The City of Zhytomyr will recoup some UAH 721,000 from these energy saving measures annually. Environmental payoffs will also be substantial as the project is expected to reduce CO₂ emissions by some 483 tonnes per year.

More details you can find here.