EBRD to allocate €300 million for Ukraine's energy sector

Ukrainian Prime Minister Denys Shmyhal and Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), have signed a memorandum of understanding. The memorandum provides that the EBRD will accumulate €300 million to support Ukraine's energy sector.

Source: Ukraine’s governmental portal

Details: "This support will help us achieve our goal of ensuring a stable and uninterrupted power supply throughout Ukraine," Shmyhal said.

The report says that the funds will be used by state-owned energy companies Ukrenergo, Ukrhydroenergo and Ukrnafta to restore generating capacity and infrastructure, as well as to build new decentralised generation.

Background:

Since the beginning of Russia's full-scale invasion, the EBRD has provided €4 billion in funding to Ukraine.

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