Under the framework of the Memorandum on Lending for the Restoration of Energy Infrastructure, signed by 17 of the largest Ukrainian banks (“Memorandum 17”), Globus Bank has reduced loan interest rates for condominium associations to 13.5% per annum.
This was announced by Serhii Mamedov, Vice President of the Association of Ukrainian Banks and Chairperson of the Board of Globus Bank.
According to him, the development of energy lending is currently extremely important, as such loans allow borrowers to become energy-independent.
Under the new loan terms of the special program “Restoration of Energy Infrastructure,” condominium associations participating in the “Energy Home” and “Green Home” programs from the Energy Efficiency Fund can take out a loan for up to 5 years for an amount up to 3 million UAH at an annual rate of 13.5% for the first year for the implementation of energy-efficient projects, and the purchase and installation of solar panels and heat pumps.
As the banker stated, high interest rates on loans were an obstacle to starting the process of energy modernization.
“Favorable lending conditions are a boost for more active participation of condominium associations in the implementation of energy independence projects,” he noted.
The expert predicts that during the first month, the bank will be able to receive up to 20 applications from Lviv, Volyn, and Mykolaiv regions. In total, at least 100 loans are planned to be issued by the end of the year.
“An interest rate of 13.5% is just the first step in the implementation of the Memorandum of the largest Ukrainian banks. That is why we expect that most commercial banks will soon follow a similar path. After all, the development of lending stimulates the economy and contributes to the rapid transformation of Ukraine into a fully energy-independent state,” concluded Serhii Mamedov.
