UKRGASBANK reduces interest rates for green projects cutting harmful emissions

UKRGASBANK introduces loan interest rates differentiation for green projects that reduce greenhouse gas emissions. The higher CO2 reduction is, the lower the rate for the client is going to be.

The Bank has developed the list of criteria that will be applied to calculate CO2 reduction volumes for the projects. Each project will undergo a detailed analysis with all the required calculations. Then the projects will be assigned a certain interest rate group based on the CO2 reduction criterion.

The reduced rate will apply to the existing and new green projects, both for SME and corporate clients.

According to the head of UKRAGASBANK’s Green Department Rodion Morozov, the new differentiated interest rate system will make the green projects more attractive for the Ukrainian business. “As the first and only member of the Carbon Pricing Leadership Coalition (CPLC) in Ukraine, UKRAGASBANK takes great efforts to promote and support the reduction greenhouse gas emissions. Green loans from UKRAGASBANK have already allowed to reduce CO2 emissions by almost 1,1 million tons.”, Mr. Morozov said.

25.02.2019