The European Bank for Reconstruction and Development (EBRD) in London signed memorandums with the Naftogaz of Ukraine national joint-stock company, the Ukrenergo national energy company and the Ukrhydroenergo energy-generating company, within which it will allocate EUR 600 million this year.
This is stated in the message of the government, Ukrainian News Agency reports.
According to Prime Minister Denys Shmyhal, the EBRD's memorandum with Naftogaz of Ukraine envisages three main areas of cooperation: the formation of strategic natural gas reserves, investments for decarbonization and reduction of methane emissions, and investments to increase energy efficiency.
"The bank will also provide assistance in the restoration and modernization of hydroelectric power plants, strengthening their reliability and efficiency. After the liberation of the territory of the Kakhovka Reservoir, we plan to develop a road map for the reconstruction of the hydroelectric power station," Shmyhal said.
According to him, another memorandum concerns the support of the Ukrenergo company.
"The goal is to provide the company with resources to cover critical costs. In particular, to ensure stable and uninterrupted transmission and dispatch of electricity," Shmyhal noted.
As Ukrainian News Agency earlier reported, the EBRD will provide the Ukrzaliznytsia joint-stock company with a loan in the amount of EUR 200 million for the modernization of railway connections between Ukraine and the European Union in the west of the country.
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