Politics 2024-05-15T05:23:13+03:00
Ukrainian news
Ukrenergo will receive a loan of EUR 32.5 million from the German KfW to finance reconstruction of substations

Ukrenergo will receive a loan of EUR 32.5 million from the German KfW to finance reconstruction of substations

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The Ukrenergo national energy company will attract a state-secured loan of EUR 32.5 million from the Credit Institution for Reconstruction (KfW, Germany) to finance the reconstruction of eight substations.

This follows from a statement by the company, the Ukrainian News agency reports.

"On Friday, the government made decisions that will allow the company to continue implementation and start a number of investment projects. In particular, the government approved the provision of a state security for the KfW loan in the amount of EUR 32.5 million to finance the reconstruction of eight substations in the southwestern region. Currently, preparations are being made until the signing of the credit and guarantee agreement with KfW, which will give a start to this project," the message says.

As the Ukrainian News agency earlier reported, Ukrenergo received a EUR 300 million loan from the European Bank for Reconstruction and Development (EBRD), as well as EUR 72 million in grant funds from the Netherlands to restore energy networks and improve the company's financial stability.

 



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