Ukraine will receive another billion euros for energy restoration

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The European Bank for Reconstruction and Development will sign a new agreement on allocating aid to Ukraine for energy needs. It is about a billion euros.

This was stated by EBRD President Odile Renaud-Basso at the opening of the plenary session, reports Ukrinform.

“On the sidelines of this conference, we are going to sign a commitment to allocate one more billion,” she said. According to the president, the key priority is to support the functioning of the infrastructure, namely investments in energy.

“For now, efforts will be focused on distributed energycapacities, and not only on generators, as was the case last year,” Renault-Basso explained.

According to her, the bank cooperates not only with the government, but also with local authorities, which should play an important role in the process of this distribution.

“Municipalities are a very important element in this regard, because a lot can be done, for example, with the heating system in a very distributed way, and the more distributed you are, the more protected you are from the consequences of a Russian attack,” she explained.

The bank’s new package of financial assistance will go, in particular, to the Lutsk district and will be aimed at the decentralization of heat supply.

“We have invested more than 4.3 billion euros to date, half of which last year was in the private sector and half in the public sector to support infrastructure,” Renault-Basso concluded.

According to the head of the EBRD, financial support to Ukraine is no less important than military support, as it allows to support the economy, which in turn generates taxes: “This allows people to stay in the country and continue to support the military effort.”

Formerly the European Bank for Reconstruction and Development allocated to Ukraine 300 million euros to ensure stable and uninterrupted electricity supply.

In general, since the beginning of the full-scale invasion of Russia EBRD provided EUR 4 billion in funding for Ukraine.

Formerly the Cabinet of Ministers of Ukraine concluded with the European Bank for Reconstruction and Development, a loan agreement for 450 million euros within the framework of the project “Development of the trans-European transport network (Ukraine – road corridors)”.

In addition, the European Bank for Reconstruction and Development (EBRD) provided to the company “Datagroup” a loan in the amount of 65 million hryvnias in hryvnia equivalent for the acquisition of the provider of telecommunications and content services of the Volia group of companies and the modernization of the network.

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