EBRD to provide Ukraine with EUR 372 million to repair energy infrastructure
The European Bank for Reconstruction and Development approved a financing package for 372 million euros to support Ukrenergo.
This is stated in the Bank's statement.
"The European Bank for Reconstruction and Development (EBRD) has approved a financing package that will bring €372 million to support Ukraine's electricity transmission company, Ukrenergo, to make swift emergency repairs of damages caused by heavy bombings of civilian power infrastructure during Russia's war on Ukraine and to keep the country's energy system stable as winter sets in," the statement says.
It is noted that the EBRD will provide a loan under state guarantees for 300 million euros, which includes two components. Up to EUR 150 million is for purchasing equipment for emergency repairs of the Ukrainian energy system and another EUR 150 million consists of capital structure support.
Separately, part of the loan for emergency repairs will be supplemented by a grant of up to 72 million euros provided by the Netherlands.
As reported, Norwegian Finance Minister Trygve Slagsvold Vedum signed an agreement with the European Bank for Reconstruction and Development on November 21 to provide financing for NOK 2 billion so that Ukraine could buy natural gas this winter.
