Ukraine is a country in Eastern Europe, sharing boarders with Russia, Belarus, Poland, Slovakia, Hungry, Romania, and Moldova. Covering a land area of more than 600 square kilometers (sq km), the country also has a coastline along the Azov and Black seas. Ukraine is vulnerable to seasonal urban floods, droughts, and wildfires, which primarily affect the agricultural and human health sectors. Its vulnerability will be exacerbated by climate change that will result in high temperatures, heat waves, heavy precipitation, mudflows, and floods.
INVESTING IN UKRAINE
CIF’s investment in Ukraine is through its Clean Technology Fund (CTF). In line with the country's goal of achieving low-carbon development, Ukraine's $340-million CTF investment plan is aimed at reducing the risks and overall costs of investing in new renewable energy capacity, waste heat generation, transmission grid upgrades, and energy efficiency in residential and government buildings, district heating, and industry. Projects in the investment plan are supporting efforts to address policy, finance, business, and information barriers to renewable energy market development, as well as provide direct financing to the private sector for 100 megawatts (MW) of large-scale wind power capacity and 80 MW of medium-sized renewable sources.
Through the CIF-TAF, there was over $ 750,000 programmed for technical assistance activities in 2021. The programs covered an array of topics such as enabling long-term Covid-19 recovery by scaling up climate corporate governance, and supporting green and inclusive climate action through implementation assistance and funding for just transition efforts.
Through the Renewable Energy Integration program, launched in 2021, Ukraine has been selected as one of the first countries to receive financing for program implementation.
