KIEV, Oct. 22 – The European Bank for Reconstruction and Development is considering the establishment of a EUR 50 million Ukraine Renewable Energy Direct Lending Facility (UREDLF), which would provide the Bank with an instrument to extend debt financing for renewable energy projects in Ukraine.

The EBRD Board of Directors is to consider the lending facility on December 8, 2009, the EBRD said in a statement.

According to the statement, the two main objectives of the facility are to provide financing and technical assistance for the realization of early renewable energy projects, which will demonstrate the benefits of utilization of renewable energy sources; and to encourage and support policy dialogue and institutional capacity building in respect of renewable energy, in order to foster the development of a favorable environment for the implementation of such projects in Ukraine.