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US contributes US$25 million to Ukrainian Energy Support Fund

Tuesday, 28 November 2023, 11:28
US contributes US$25 million to Ukrainian Energy Support Fund
Stock photo: UNSPLASH

The United States Agency for International Development (USAID) and the Energy Community Secretariat have signed an agreement on the US grant contribution to the Ukrainian Energy Support Fund for US$25 million (€23 million).

Source: Ukraine's Ministry of Energy 

Details: The ministry noted that this is the first US government’s contribution to the Fund, which was established following the initiative of Ukraine’s Energy Minister Herman Halushchenko and European Commissioner for Energy Kadri Simson.


Thus, the total amount pledged by donors’ contributions to the Ukrainian Energy Support Fund reached over €329 million.

About €192 million of this amount was actually transferred to the Fund's account from 15 public and private sector sponsors from different countries. The rest of the amount is the announced and formalised contributions, which are expected to be in the Fund's account in the near future.

Quote: "The funds will be used to purchase equipment needed to rehabilitate energy companies.

In particular, between 1 January and 27 November 2023, 132 agreements for the purchase of energy equipment, fuel and materials totalling almost €100 million were concluded within the framework of the Fund."

The ministry also emphasised that the Ukrainian Energy Support Fund was created in the spring of 2022 and that it enables governments, international financial organisations, and private donors to provide substantial support to the Ukrainian energy sector.

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