EBRD TO FINANCE INSTALLATION OF HEAT METERS IN LVIV

The replacement of the heating insulation pipes in heating pipelines, installing thermostats, and constructing distribution stations will be funded by the project. To fulfill the project, the EBRD will loan Lvivteplokomunenerho $35 million under government guarantee (although the Ukrainian government has not yet given its guarantee). The loan will be divided into three tranches: 4% of the in 1998, 34% in 1999, and 62% in 2000. Another $10 million necessary for fulfillment of the project will be invested by the Lviv state enterprise from its own funds.

The EBRD will hold a tender to determine the executor of the project. According to Ihor Makovetsky, Lviv Oblast State Administration Deputy Chairman for Energy Supply and Municipal Economy, heat meters will allow Lviv citizens to save 30%-35% of the money they pay for heating.