This announcement was made by the Prime Minister of Ukraine, Denys Shmyhal.
"The EBRD accumulates EUR 300 million to support the energy sector of Ukraine, which is suffering from Russian attacks. The corresponding memorandum was signed today with the president of the bank, Odile Renaud-Basso," Shmyhal stated.
Allocation of Funds:
- Restoration of Generating Capacities and Infrastructure: The funds will be directed towards state energy companies to repair and restore power generation and infrastructure.
- Construction of New Decentralized Generation: The support will also facilitate the development of new decentralized energy generation projects.
"This support will help in the realization of our goal - to ensure a stable and uninterrupted electricity supply to the entire territory of Ukraine. Thanks to the partners and Odile Renaud-Basso personally for the contribution to our sustainability," Shmyhal added.
Since the onset of the full-scale Russian invasion, the EBRD has provided Ukraine with €4 billion in financing.
Additional EBRD Support:
- Transport Network Development: The Cabinet of Ministers of Ukraine recently concluded a loan agreement with the EBRD for 450 million euros under the "Development of the Trans-European Transport Network (Ukraine - Road Corridors)" project.
- Telecommunications Support: The EBRD granted Datagroup a loan of 65 million hryvnias (in hryvnia equivalent) for acquiring the provider of telecommunications and content services of the Volia group of companies and for modernizing the network.
This significant financial support from the EBRD aims to bolster Ukraine's energy sector amidst ongoing challenges, contributing to the country's resilience and sustainability.
