Financial support for recovery: Ukrhydroenergo receives €200 million from EBRD and Italy
Kyiv • UNN
Ukrhydroenergo received €200 million in financial support from the EBRD and the Italian government to restore its hydroelectric power plants.
Ukrhydroenergo has received financial support from the EBRD and the Italian Government for 200 million euros. This is reported by Ukrhydroenergo, UNN reports.
Details
On February 17, a loan agreement was signed in Kyiv between the Ukrainian hydropower company Ukrhydroenergo and the European Bank for Reconstruction and Development (EBRD), which provides financial support in the amount of EUR 200 million for the implementation of the Emergency Restoration of Hydropower Plants project.
The Agreement also includes the Declaration of Accession between Ukrhydroenergo, the Government of the Italian Republic, CassaDepositi e Prestiti S.p.A., the Development Bank, representing the Ministry of Economy and Finance of the Italian Republic, the Revolving Fund for Development Cooperation and the EBRD. A Guarantee Agreement was also signed between the Governments of Ukraine and the Italian Republic and the EBRD.
The EUR 100 million loan from the EBRD, supported by a parallel EUR 100 million concessional loan from Italy, is aimed at restoring and supporting Ukrhydroenergo's electricity generation needs.
The €200 million sovereign-guaranteed loan facility will be provided in two tranches, with €150 million earmarked to finance the supply of critical equipment for the Dnipro and Sredniodniprovska hydroelectric power plants and another €50 million to provide emergency liquidity support to Ukrhydroenergo to ensure its sustainability.
