Vinnytsia’s condominiums will receive loans from the city for energy efficiency works under the Energodim program. The Vinnytsia City Council made the decision.
During martial law, banks do not lend to condominiums. So, he Vinnytsia City Council will allocate funds to finance the work through the Vinnytsia Municipal Investment Fund. The interest rate for condominiums will be minimal, ranging from 3% to 5%. The maximum loan amount will be up to 70% of the total cost of construction works.
Upon completion of the energy modernisation, the Energy Efficiency Fund will compensate condominiums for 40 to 70% of the cost of the work.
In June deputies approved the allocation of funding for the first two condominiums. In July, contracts signed and funding for residential energy modernisation projects began.
And on July 7, 2023, the deputies approved the Program for the Development and Support of Condominiums of Vinnytsia City Territorial Community for 2024-2028.
The possibility of providing loans to three more condominiums is currently being considered. Now 13 condominiums are the part of the Program in Vinnytsia. The city council believes that lending to the remaining participants will continue next year.
During martial law, EEF does not accept new applications for participation in the Energodim program.
Read also: Co-owners will be able to receive compensation for step-by-step the replacement of windows and balconies
Photo: Energy Efficiency Fund
Vinnytsia City Council will provide loans to participants of the Energodim program
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