EBRD to mobilise €300 million to boost Ukraine’s energy security
In response to Russia’s latest attacks on Ukraine’s energy infrastructure, the European Bank for Reconstruction and Development (EBRD) has announced additional funding of more than €300 million to the country’s state-owned energy companies, including EBRD clients Ukrenergo, Ukrhydroenergo, and Ukrnafta.
On 5 June, EBRD President Odile Renaud-Basso signed a memorandum of understanding on an energy security emergency response programme with Ukrainian Prime Minister Denis Shmyhal. The EBRD and the Ukrainian government will jointly define priority focus areas in the energy sector.
Under the agreement, the EBRD intends to support the restoration of generation facilities and infrastructure, to facilitate the construction of new distributed flexible generation capacity and to ensure stable and uninterrupted electricity supply across the country.
Since Russia embarked on its full-scale war against Ukraine in February 2022, the Bank has made more than €4 billion of financing available to Ukraine.
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