URC2024 results: G7+ will provide $1B in aid to Ukraine’s energy sector, and projects worth €16B announced at the conference.

At a high-level meeting of the G7+ Coordination Group on Aid to Ukraine’s Energy Sector in Berlin, Ukraine’s allies announced additional aid for Ukraine’s energy sector totaling more than $1B.

The new aid pledges include more than €70M in new grant contributions to the Energy Support Fund of Ukraine, $500M in new funding from the US to support the energy sector, €300M in additional funding from the EBRD and at least $47M in additional grants from the World Bank, as well as donations in the form of humanitarian aid from EU member states.

State Secretary of the German Foreign Ministry Thomas Bagger noted at the closing of the URC2024 that the event helped commence projects worth more than €16B. More than 100 agreements were concluded.

During the event, one of the main topics and highest priorities for the Ukrainian government was the energy issue, as Ukraine has lost 50% of its energy capacity as a result of the latest Russian shelling.