EBRD accumulates EUR 300 million to support the energy sector of Ukraine

Source: prime minister Denys Shmyhal

The European Bank for Reconstruction and Development is going to accumulate 300 million euros to support the energy sector of Ukraine.

On June 5, a meeting between the Prime Minister of Ukraine and the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, took place in Kyiv. The parties signed a memorandum of understanding, which provides that the EBRD will accumulate 300 million euros to support the energy sector of Ukraine.

‘This support will help in the realization of our goal – to provide a stable and uninterrupted electricity supply to the entire territory of Ukraine,’ Denys Shmyhal said.

The funds will be directed to the state energy companies Ukrenergo, Ukrhydroenergo and “Ukranafta” for the restoration of generating capacities and infrastructure, as well as for the construction of new decentralized generation.

During the meeting, the parties also discussed further cooperation in the economic and financial sectors. In total, since the beginning of the full-scale Russian invasion, the EBRD has provided Ukraine with €4 billion.