The EBRD will provide Ukraine with €300M to restore energy infrastructure and construct new decentralized generation.

Ukraine and the EBRD signed a memorandum under which the European Bank will provide €300M to support Ukraine’s energy sector.

“This support will help to fulfill our goal – to ensure a stable and uninterrupted electricity supply to the entire territory of Ukraine,” said Prime Minister Denys Shmyhal.

According to him, the funds will be directed to state energy companies for the restoration of generating capacities and infrastructure, as well as for the construction of a new decentralized generation structure. In total, the EBRD has provided €4B to Ukraine since the start of the full-scale Russian invasion.

Shmyhal called strengthening the energy industry following the Russian terrorist attacks a key government priority. According to Shmyhal, the consequences of Russian attacks on energy infrastructure will force Ukrainians to conserve electricity for years.