Ukraine Intensifies Work on Green Bond Market Development

Thursday, August 19, 2021
Ukraine Intensifies Work on Green Bond Market Development

The government meeting approved a draft that complemented the functions of state energy efficiency

Updating the agency's tasks will strengthen the work on the introduction of one of the world's most famous instruments for financing projects — green bonds.

As you know, from July 1, 2021 came into force a law, which introduces green bonds and establishes rules for market participants. Relevant provisions of the law were developed by the state agency for energy efficiency with the support of the GIZ project Consulting enterprises on energy efficiency and other partners.

Currently, the State agency for energy efficiency is working with the ministry of environment and other stakeholders on secondary legislation for full-scale market development.

Also, the state energy efficiency has already developed a concept for the development of the green bond market in Ukraine.

In general, Ukraine has a huge potential for the development of this market. This is noted in their own research by the IFC and OECD.

Also recently, the international rating agency Fitch Ratings improved the forecast of the long-term rating of the issuer — Ukraine in foreign currency from stable to positive, making it "B". And this, in turn, provides prospects for increasing the investment opportunities of other national issuers.

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