EBRD to provide EUR 300M in support of Ukraine’s energy sector – PM Shmyhal

The European Bank for Reconstruction and Development (EBRD) will allocate EUR 300 million for Ukraine to ensure stable and uninterrupted electricity supplies across the country.

The relevant statement was made by Ukrainian Prime Minister Denys Shmyhal on Telegram, an Ukrinform correspondent reports.

“The EBRD is accumulating EUR 300 million in support of Ukraine’s energy sector, which is suffering from Russian attacks. Today, we have signed the corresponding memorandum with EBRD President Odile Renaud-Basso,” Shmyhal wrote.

The funds will be directed to state-owned energy companies to restore the generating capacities and infrastructure, as well as to build a new decentralized generation.

According to the Prime Minister, the above assistance will help the Ukrainian government achieve its goal, i.e. ensure stable and uninterrupted electricity supplies across the country.

Shmyhal thanked the partners and personally Odile Renaud-Basso for their contribution to Ukraine’s resilience. Overall, the EBRD has provided EUR 4 billion in financial assistance to Ukraine since the Russian full-scale invasion started.

A reminder that Iceland will make a second contribution of EUR 667,000 to the Ukraine Energy Support Fund.