EBRD and Italy to provide Ukraine with €200 million for hydropower plants repairs

Saturday, 17 February 2024, 16:14

destroyed dam of the Kakhovka hydroelectric power station. Stock photo: Getty Images

The European Bank for Reconstruction and Development (EBRD) will provide a €100 million loan to finance the maintenance of Ukrainian hydroelectric power plants (HPPs) that suffered war-related damage and destruction, with another €100 million to be provided by Italy.

Source: press service of Ukraine’s Economy Ministry

Details: The financing will take the form of a loan. The relevant loan agreement was signed on 17 February between the EBRD and Private Joint Stock Company Ukrhydroenergo, a state-owned hydropower company in Ukraine.

Under the agreement, the loan will be used to purchase critical equipment for Dnipro and Serednodniprovska HPPs and provide emergency liquidity support to Ukrhydroenergo to ensure the company's sustainability.

Background: At the end of January, the EBRD approved a loan of up to €200 million for Ukrhydroenergo under a state guarantee.

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