UA2005: Green Finance Project

This project presents an opportunity for the Managed Fund to work alongside other donors and IFIs to help shape the policy framework for establishing a green finance market. This will complement existing donor/IFI interventions and inform GoU's policies at an early stage. It will focus on building a broad consensus amongst the public and private sectors on what green finance is and how it can be used to raise funds for "green projects".

The expected outputs are:

• A needs assessment and set of recommendations on ways to respond to key policy gaps, needs, obstacles, opportunities, and incentives to develop green finance instruments in Ukraine, including a case study into financial instruments applicable for green projects of various scales across Ukraine. On behalf of the National Securities and Stock Market Commission, the project will suggest drafting amendments to bylaws and policy documents regulating the bond market and 'green bonds'.
• Increased awareness within central government, local municipalities, and the private sector on green finance instruments.

The MF2 will focus on the particular needs, gaps, and opportunities for using green finance in the energy sector, which will build on and leverage MF2's ongoing support to develop the Energy Strategy of Ukraine 2050 (UA2004). The MF2 will utilize its relationship with the Ministry of Energy, to embed green finance within Ukraine's broader energy policy framework.