Strategic Reserve to be set up within Ukraine Energy Support Fund after international energy talks

A Strategic Reserve will be established within the Ukraine Energy Support Fund, Ukraine's Energy Minister Denys Shmyhal has said following talks with Kyiv's international partners in Brussels.

Source: Shmyhal on X (Twitter)

Details: The Reserve currently has a budget of €197 million. It will enable Ukrainian companies to stockpile energy equipment ahead of the next winter and use these reserves for repairs if necessary.

Quote: "We have also reached agreement with our partners on Ukraine's financial needs to prepare for the next winter. We are working to fully meet our needs. In particular, we expect €5.4 billion."

Details: Shmyhal said the Ukrainian side held a number of meetings with representatives of the European Commission, particularly Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, Marta Kos, European Commissioner for Enlargement, and Dan Jørgensen, European Commissioner for Energy and Housing. Talks were also held with Ukraine's partners from other countries.

Background: The Restoration Project of Winterisation and Energy Resources (RePoWER) will be expanded. Implemented jointly with the World Bank, the project restores damaged heating supply in Ukrainian cities.

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