The European Bank for Reconstruction and Development has decided to redirect EUR 50 million from the current project of the modernization of the transmission network to emergency support for the liquidity of the transmission system operator.
This is stated in the message of the Ministry of Finance, Ukrainian News Agency reports.
On May 11, agreements were signed on amending the Guarantee Agreement and the Loan Agreement with the European Bank for Reconstruction and Development.
On the Ukrainian side, the signing of amendments to the Guarantee Agreement was carried out by Finance Minister Serhii Marchenko and Chairman of the Ukrenergo Board of the National Energy Company Volodymyr Kudrytskyi.
EUR 50 million within the framework of the current project for the modernization of the transmission network will be redesigned to emergency support for the liquidity of the operator of the transfer system of Ukraine to ensure its stable operational activities under martial law.
The repurposed part of the EBRD loan will be guaranteed by the European Sustainable Development Fund, which is the financial mechanism of the EU External Investment Plan.
As Ukrainian News Agency earlier reported, a loan in support of liquidity of the Ukrenergo NEC is provided as part of a package of assistance in response to the war in Ukraine by the EBRD, providing for the allocation of EUR 2 billion in support of Ukraine's sustainability and to help affected countries.
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