In response to Russia’s latest attacks on Ukraine’s energy infrastructure, the European Bank for Reconstruction and Development (EBRD) is providing further funding to the country’s state-owned energy companies, including EBRD clients Ukrenergo, Ukrhydroenergo, and Ukrnafta.
Under the agreement, the EBRD intends to mobilize additional funding of more than EUR 300 million for Ukraine’s energy companies, to support the restoration of generation facilities and infrastructure, facilitate the construction of new distributed flexible generation capacity, and ensure stable and uninterrupted electricity supply across the country.
The EBRD and the Government of Ukraine will work together to define priority focus areas in the energy sector, and the outcome will guide EBRD support.
The Bank, which has made more than EUR 4 billion of financing available to Ukraine since Russia embarked on its full-scale war there in February 2022, has reworked its investment plans for this year to address the urgent energy needs arising from the recent attacks.
Distributed energy generation development, including from renewable sources, and the resilience of the power transmission system are key priorities in the EBRD’s engagement with energy sector clients.
Energy security is one of the EBRD’s five investment priorities in Ukraine, along with vital infrastructure, food security, trade, and support for the private sector.
