Ukrenergo can receive an EBRD grant for the repair of damaged facilities

Ukrenergo can receive not only credit, but also grant funds from the European Bank for Reconstruction and Development (EBRD) for the repair of power grids damaged by Russian shelling. Adviser to the prime minister, member of the supervisory board of the national energy company, Yuriy Boyko, reported about it in the interview for Interfax-Ukraine.

According to him, Ukrenergo and the EBRD are currently working on a new project, within the framework of which the company should receive a loan for €300 million. The purpose of a significant part of the funds is to restore the infrastructure destroyed as a result of Russian shelling. At the same time, the possibility of providing a certain amount in the form of a grant is being considered. The details in this direction have not yet been determined, other donors may also be involved in the project.

In addition, as Yuriy Boyko added, the World Bank is also considering the issue of providing Ukrenergo with financial assistance, the amount of which is still being discussed.

Ukrenergo also recently received a €97 million loan from the EBRD – part of the funds are planned to be used to compensate dispatching restrictions for producers of green electricity.

As it was noted, at the end of August, the Ministry of Finance and the EBRD signed an agreement on the allocation of €97.3 million to Ukrenergo to support the sustainability of the national energy company. In June, the company received €50 million from the European Bank for Reconstruction and Development.

As GMK Center reported earlier, the European Bank for Reconstruction and Development worsened the forecast for the growth of Ukraine’s economy in 2023 from the previously expected 25% to 8%. Expectations regarding the drop in the country’s GDP in 2022 remained at the same level – 30%.