EBRD allocates €372 million to “Ukrenergo” for infrastructure repairs

Oleksiy Yarmolenko

The European Bank for Reconstruction and Development (EBRD) allocates €372 million in financing for Ukrenergo. It will be used for repairing, purchasing equipment and maintaining the capital structure.

The press service of the EBRD writes about it.

"The European Bank for Reconstruction and Development has approved a €372 million financing package to support the Ukrainian company Ukrenergo for the rapid emergency repair of damage caused by heavy bombing of civilian energy infrastructure during Russiaʼs war against Ukraine, and to maintain the stability of the countryʼs energy system with the onset of winter", the message says.

The EBRD will provide a loan under state guarantees for €300 million. Up to €150 million will go to the purchase of equipment for emergency repairs of the Ukrainian power system, and another €150 million to support the capital structure.

Part of the loan for emergency repairs will be supplemented by a grant of up to €72 million from the Netherlands.

  • The United Energy System of Ukraine was subjected to massive missile attacks on October 10, 11, 17, 22 and November 2, 15 and 23. Almost 50% of the energy infrastructure was damaged by the shelling, which led to stabilizing power outages in Ukraine. In general, the missile strikes caused damage to Ukraineʼs energy system of more than 70 billion hryvnias.