WASHINGTON, Nov. 3 (UPI) -- A project in Ukraine aims to expand energy efficiency and decrease energy use in the industrial sector, the World Bank said.
Ukraine's reputation as a gas transit nation was tarnished following a series of spats with energy-rich Russia. International lenders helping Kiev's battered economy focused on the country's energy sector as a target for reform
An energy efficiency project at the World Bank aims to provide funding for a decrease in energy use in Ukraine's industrial sector. The municipal sector is called on to expand the energy efficiency business.
The bank said that investing in sound and sustainable development makes "good business sense" as countries aim to address energy concerns while keeping environmental degradation in mind.
"Bank supervision missions should consider including an environmental safeguard specialist once a year to audit monitoring procedures and results and as well, provide an assessment of the effects, if any, that the project may be having on cumulative impacts," the World Bank said.
