Germany to donate almost EUR 200M for Ukraine’s energy sector

Germany will allocate an additional EUR 195 million for the needs of Ukraine’s energy companies ahead of the winter period.

The Federal Ministry of Economic Cooperation and Development of the Federal Republic of Germany reports this on its website, Ukrinform saw.

It is noted that during the negotiations held on Wednesday in Berlin with the Deputy Prime Minister of Ukraine Oleksandr Kubrakov, the head of the German ministry, Svenja Schultze, assured that the German government will continue to support Ukraine in protecting critical energy infrastructure and ensuring economic recovery.

"In particular, Schulze vowed an additional EUR 195 million for energy supply and the survival of companies in Ukraine," the press release states.

In general, the support from the Federal Ministry of Economic Cooperation and Development to Ukraine since the invasion has amounted to about EUR 1.2 billion.

"Heating and electricity are key to people’s sustainability in Ukraine, especially with the winter looming. That is why we are increasing our support for Ukraine's critical energy infrastructure. The Ukrainian government has committed to work toward reconstruction, which will make the country more stable and bring it closer to the European Union. We will actively support you in this," Schulze said.

About half of the additional funds should be used to protect the energy infrastructure shortly before the onset of winter, to restore the war-damaged Ukrainian power system, and at the same time to ensure the use of energy-efficient technology and renewables. For this purpose, support will be provided to the Ukrainian electricity supplier Ukrenergo.

The Green for Growth Fund will also be replenished through the KfW bank. This will provide much-needed financial support to local businesses, particularly in the agricultural sector.

As reported, Vice PM Oleksandr Kubrakov took part in the 6th German-Ukrainian business forum in Berlin.

Photo: bmz.de