President Signs Amendments to the BCU, Developed with Participation of MFSI-II, Enabling Implementation of Full-Scale Thermal Modernization of Government-Funded Institutions and Providing Guarantees to Investors
30 April 2015
On 29 April 2015, President Petro Poroshenko signed the Law of Ukraine "On Amending the Budget Code of Ukraine with Regard to Introduction of New Investment Opportunities, and Guaranteeing the Rights and Legitimate Interests of Business Entities for Implementation of Large-Scale Energy Modernization."
The relevant draft laws for introducing the mechanisms of energy performance contracts in government-funded institutions (No.1409 dated 11 December 2014, and No.1313 dated 9 December 2014) were adopted by the Verkhovna Rada of Ukraine on 9 April 2015. The MFSI-II experts participated in the development and coordination of this legislative draft for more than two years.
The approved law will make the public sector more attractive for implementation of energy saving activities by private investors. Among other things, this will be achieved through guaranteeing the protection of rights of such investors, in particular, thanks to introducing a transparent system of negotiation and implementation of energy performance contracts. Attracting such private investments will help to significantly reduce energy consumption in the public sector and lessen country's energy dependence in general.
The relevant draft laws for introducing the mechanisms of energy performance contracts in government-funded institutions (No.1409 dated 11 December 2014, and No.1313 dated 9 December 2014) were adopted by the Verkhovna Rada of Ukraine on 9 April 2015. The MFSI-II experts participated in the development and coordination of this legislative draft for more than two years.
The approved law will make the public sector more attractive for implementation of energy saving activities by private investors. Among other things, this will be achieved through guaranteeing the protection of rights of such investors, in particular, thanks to introducing a transparent system of negotiation and implementation of energy performance contracts. Attracting such private investments will help to significantly reduce energy consumption in the public sector and lessen country's energy dependence in general.
Glyanec