European Bank for Reconstruction and Development allocates €372 million to Ukraine’s electricity transmission company for infrastructure repairs
The European Bank for Reconstruction and Development (EBRD) has approved a financial package that includes the allocation of €372 million in financing for Ukraine’s electricity company, Ukrenergo.
A sovereign EBRD guaranteed loan of €300 million will include two components: up to €150 million for the purchase of emergency repair equipment for the Ukrainian power system and another €150 million to support the capital structure.
“Urgent repairs on Ukraine’s electricity network is an immediate priority for the EBRD. The Ukrainian people and businesses need continued access to electricity to go through the winter,” stated EBRD President Odile Renaud-Basso.