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Commercial banks have an important role to play in providing access to green finance. However, under the current market conditions in the EU Eastern Partnership (EaP) countries, their involvement remains limited. Generally, commercial banks have only established specific environmental credit lines when supported by International Finance Institutions (IFIs), and only a small number continue to offer such products once IFI support is withdrawn. Learning from the design and implementation of such credit lines can provide useful insights into what could be done to increase the capacity and willingness of the banking sector to finance green investments.
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Despite the political and economic difficulties that Ukraine has faced in recent years, its government has been able to articulate new and ambitious policy goals. The reform agenda has been largely focused on deregulation, decentralisation privatisation, strengthening the financial markets. Ukraine has also made important efforts to modernise and reform its energy sector and related markets. Energy efficiency and the development of renewable energy sources in Ukraine have become a matter of energy sovereignty and the country’s wider security.
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This chapter reviews the role and capacity of the banking sector in Ukraine to support the economic development of the country. It also describes the main trends in the banking sector particularly since the last financial crisis. The chapter briefly discusses the major reform measures that the government of Ukraine could consider to create an effective and competitive banking system.
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This chapter reviews the challenges in Ukraine confronting the shift to sustainable energy, and the emerging policy context for green investment. It discusses both supply-side policy measures related to renewable energy and power sector efficiency as well as demand-side policies on energy efficiency. The chapter also analyses climate change policies as a driver of energy sector improvements. The chapter finishes with a discussion of the most recent policy developments with a particular focus on the new Energy Strategy to 2035.
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This chapter reviews the sustainable energy-lending operations of the Export- Import Bank of Ukraine (Ukreximbank) and analyses its energy efficiency portfolio. The chapter examines Ukreximbank’s experience, in order to assess the barriers to developing a successful sustainable energy-lending portfolio, and to identify key success factors from an institutional perspective.
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This chapter summarises the main conclusions and findings that have emerged from the analysis. The chapter also offers recommendations intended for policy makers in the Government of Ukraine. These touch upon, among other things, improvements in the macro-economic situation and investment climate, political and institutional environment, and the access to and cost of finance.