Germany’s Significant Contribution to Ukraine’s Energy Support Fund

by Roman Cheplyk
Wednesday, June 12, 2024
Germany’s Significant Contribution to Ukraine’s Energy Support Fund

Germany has announced a new contribution of EUR 50 million to Ukraine’s Energy Support Fund, bringing its total contribution to over EUR 275 million

This makes Germany the largest single contributor to the fund, which has accumulated more than EUR 545 million in total.

Key Points:

  1. New Contribution:

    • Germany's latest commitment of EUR 50 million elevates its total contributions to over EUR 275 million.
    • This is the largest contribution from any sponsor to date.
  2. Humanitarian Aid and Equipment:

    • Since March 2022, Germany has sent 120 shipments of humanitarian aid to Ukraine's energy sector.
    • These shipments, weighing over 1,670 tons, included transformers, generators, cables, fittings for overhead lines, and other essential equipment.
  3. Energy Support Fund:

    • The Energy Support Fund of Ukraine was established in spring 2022.
    • Recent contributors to the fund include Australia, Great Britain, Austria, Sweden, Iceland, and Estonia.
  4. Government Initiatives:

    • The Ukrainian Cabinet of Ministers has adopted a resolution to use the Energy Support Fund to compensate banks' interest rates on household loans for renewable energy installations.
    • The loans will support the purchase and installation of photovoltaic modules and/or wind power plants with capacities ranging from 1 kW to 10 kW, including hybrid inverters.
    • The maximum loan amount is set at UAH 480,000, with a repayment term of up to five years.

Germany's substantial financial support and ongoing humanitarian aid underscore its commitment to helping Ukraine rebuild and stabilize its energy sector amidst the ongoing challenges. This support is crucial for Ukraine's efforts to enhance its energy infrastructure and promote sustainable energy solutions.

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