The agreement with the European Bank for Reconstruction and Development and Italy is an important step towards the modernization and development of Ukrainian hydropower facilities. At the expense of loan funds, the equipment of energy generating companies, damaged during the war, will be restored.
Ukraine will receive a loan from the EBRD and the Italian government
EBRD together with the Italian government will provide 200 million euros for the restoration of hydroelectric power plants in Ukraine.
This was stated by the First Deputy Prime Minister of Ukraine, Yulia Svyridenko.
The Ministry reported that the EBRD will provide a EUR 100 million loan to finance the restoration of Ukrainian hydroelectric power plants that were destroyed and damaged by the war.
The EBRD loan was also supported by a parallel preferential loan of EUR 100 million from the Italian government.
The corresponding loan agreement was signed on February 17 between the EBRD and Ukrhydroenergo PJSC.
The agreement with the EBRD is an important step towards the modernization and development of Ukrainian hydropower facilities. At the expense of loan funds, the equipment of energy generating companies, which was damaged as a result of Russian missile strikes, will be restored.
Julia Svyridenko
First Deputy Prime Minister of Ukraine
According to the agreement, the loan funds will be directed to the purchase of critical equipment for the Dnipro and Middle Dnipro hydropower plants, as well as to the provision of emergency liquidity support to Ukrhydroenergo PJSC to ensure the sustainability of the company's work.
Aid to Ukraine from Italy
It will be recalled that in December 2023, the Italian government adopted a resolution allowing the country to provide military support to Ukraine until the end of 2024. This decision had to be supported by the country's parliament.
Meanwhile, Italian Foreign Minister Antonio Tajani called on the European Union to form its own army that would play a role in peacekeeping and conflict prevention.
Reuters recently reported that Italy hopes to use its G7 presidency to challenge growing perceptions that Russia is winning in Ukraine.
And on February 8, 2024, the Chamber of Deputies of Italy gave the "green light" to the continuation of military aid to Ukraine.
