The EBRD will accumulate EUR 300 million to support Ukraine's energy sector
On 5 April, the Prime Minister of Ukraine and the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, met in Kyiv. Following the meeting, the parties signed a memorandum of understanding stipulating that the EBRD will accumulate EUR 300 million to support the energy sector of Ukraine.
"This support will help us achieve our goal of ensuring a stable and uninterrupted electricity supply throughout Ukraine," said Prime Minister Denys Shmyhal.
Thus, the funds will be used by state-owned energy companies Ukrenergo, Ukrhydroenergo and Ukranafta to restore generating capacities and infrastructure, as well as to build new decentralised generation capacities.
The parties also addressed further cooperation in the economic and financial sectors.
In total, the EBRD has provided EUR 4 billion in financing to Ukraine since the beginning of russia's full-scale invasion.
Denys Shmyhal thanked the partners and personally Odile Renaud-Basso for their contribution to Ukraine's resilience.