EBRD provides Ukraine with almost EUR 150 mln for power grid modernization

The European Bank for Reconstruction and Development (EBRD) will provide Ukraine with EUR 149 million for the modernization of power grids, the press service of the Finance Ministry of Ukraine has reported.

"The Cabinet of Ministers of Ukraine approved a decree on the expediency of attracting a loan from the European Bank for Reconstruction and Development (EBRD) in the amount of EUR 149 million to implement a project to modernize the transmission network," the statement says.

The project will be implemented by Ukrenergo National Power Company. It will improve the efficiency and reliability of power transmission in western, northern, southern and central regions of Ukraine.

Attraction of loan funds from international financial organizations enables to carry out a number of effective measures to implement the company's development strategy and strengthen the energy infrastructure.

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