About past, present and future of Ukraine

Main Diplomacy — The EBRD and the Government of Italy will provide 200 million euros for the restoration of hydropower stations in Ukraine

Diplomacy

The EBRD and the Government of Italy will provide 200 million euros for the restoration of hydropower stations in Ukraine

19 Feb, 2024
211
The EBRD and the Government of Italy will provide 200 million euros for the restoration of hydropower stations in Ukraine

Share this article

The European Bank for Reconstruction and Development (EBRD) will provide a 100 million euro loan to finance the restoration of Ukrainian hydroelectric power stations that have been damaged and destroyed due to the war. The EBRD loan was also supported by a parallel concessional loan of 100 million euros from the Government of Italy. The relevant credit agreement was signed on February 17 between the EBRD and PJSC "Ukrhydroenergo".

"The agreement with the EBRD is an important step towards the modernization and development of Ukrainian hydroelectric facilities. The credit funds will be used to restore the equipment of power generating companies damaged by Russian missile strikes, enabling stable operation of the domestic energy system and uninterrupted power supply to consumers. We are grateful to the EBRD and the Government of Italy for their support and the opportunity to strengthen our generation," said First Deputy Prime Minister of Ukraine - Minister of Economy Yulia Svyrydenko.

According to the agreement, the credit funds will be directed towards the purchase of critical equipment for the Dnipro and Middle Dnipro hydroelectric power stations, as well as providing emergency liquidity support to PJSC "Ukrhydroenergo" to ensure the company's operational stability.

The Odessa Journal

The Odessa Journal

more articles

Top article

The Ministry of Defense has signed a contract for the construction of a service center for repairing drones in Ukraine
War

The Ministry of Defense has signed a contract ...

Dmytro Kuleba: Ukraine and Croatia have agreed to use Croatian ports for exporting Ukrainian grain
Business

Dmytro Kuleba: Ukraine and Croatia have agree ...

New sanctions: Defence industry, political parties and individuals linked to oligarchs
Business

New sanctions: Defence industry, political pa ...

Volodymyr Zelensky: We are preparing for the next Ramstein meeting, we expect solidly grounded decisions to meet the prospects on the battlefield
War

Volodymyr Zelensky: We are preparing for the ...