By KYIV. Dec 30 (Interfax-Ukraine) – NPC Ukrenergo and the European Bank for Reconstruction and Development (EBRD) have signed an agreement on providing the company with a EUR 70 million targeted grant from the Bank’s Special Fund, provided by the government of the Kingdom of the Netherlands, Board Chairman of Ukrenergo Volodymyr Kudrytsky said.
As Kudrytsky explained on Facebook, these funds will be used exclusively for the purchase of equipment necessary for the resumption of reliable operation of Ukraine’s energy infrastructure.
"We are grateful to our international partners for such a high level of trust in our company and strong support in restoring Ukraine’s power system. Now we are actively working with manufacturers around the world to supply the necessary equipment as soon as possible," the head of Ukrenergo said.
As reported, in early December, NPC Ukrenergo noted that it had attracted EUR 300 million in EBRD loans, EUR 150 million of which would be used to purchase equipment needed for substations that were subjected to massive Russian missile strikes.
The remaining EUR 150 million of the EBRD loan will be used to replenish Ukrenergo’s working capital, in particular, to fulfill the company’s financial obligations in the electricity market in the face of non-payments that arose in the market due to the war.
At the same time, there was talk of attracting EUR 72 million in grant funds from the Netherlands to restore grids and increase the company’s financial stability.
