The European Bank for Reconstruction and Development has approved a financing package in the amount of 372 million euros to support the company "Ukrenergo" in order to quickly eliminate the damage caused by Russian missile strikes.
This is stated in the EBRD statement.
"The EBRD strongly condemns Russia's unprovoked and unjustified war against Ukraine, especially the attacks on civilian infrastructure," the statement said.
The EBRD will provide Ukraine with a state-guaranteed loan of EUR 300 million, which will consist of two components: up to EUR 150 million for the purchase of equipment for emergency repair work in the Ukrainian power system, and another EUR 150 million for capital structure support.
Separately, part of the loan for emergency repairs will be supplemented by a grant in the amount of up to 72 million euros provided by the Netherlands. These funds will be combined into a single package in the amount of 372 million euros to support the urgent needs of "Ukrenergo" in the restoration of the electricity transmission infrastructure.
The EBRD has committed to providing Ukraine with a financial package worth 3 billion euros in 2022-2023 to help ensure the continued functioning of the Ukrainian economy.
It will be recalled that Norway will provide Ukraine with $182 million for the purchase of natural gas during the next winter.