Ukraine Receives 270 Million Euros from EBRD to Strengthen Energy Sector under State Guarantees
Ukraine is receiving funding from the European Bank for Reconstruction and Development (EBRD) amounting to 270 million euros, which will be secured under state guarantees. These funds are aimed at enhancing the energy stability of the country. This was announced by the Prime Minister of Ukraine, Denys Shmyhal, on April 25 during his visit to Washington, where he signed the relevant agreement with EBRD President Odile Renaud-Basso.
This is reported by AgroReview
According to Shmyhal, in addition, the EBRD will provide a grant of 140 million euros from the Norwegian government.
“The agreement involves attracting 270 million euros from the EBRD under state guarantees, which will be accompanied by a grant of 140 million euros from the Norwegian government”
. The funds will allow Naftogaz of Ukraine to import significant volumes of natural gas in preparation for the upcoming heating season, the Prime Minister noted.
Implementation of International Financial Support and Its Significance for Ukraine
According to the Prime Minister, since the beginning of the full-scale war with Russia, the EBRD has mobilized over 6 billion euros for Ukraine in the form of loans, grants, and guarantees. Currently, the country is implementing 12 joint projects with the bank in the fields of energy, logistics, and critical infrastructure.
“We had a substantive dialogue with President Renaud-Basso. We outlined the prospects for further cooperation in the areas of distributed generation, hydropower restoration, gas extraction, and transportation,” Shmyhal stated.
He also added that the parties discussed support for the private sector and the reconstruction of Ukraine after the end of hostilities, as well as long-term cooperation plans.
According to the Ministry of Energy, Russia has carried out over 30 massive strikes on Ukraine’s energy infrastructure during three years of large-scale war, resulting in multi-billion dollar losses. These actions have severely undermined the country’s energy sector and require significant efforts for recovery.