European Bank for Reconstruction and Development directs credit funds to support the liquidity of the Ukrenergo

On May 11, the amendments to the Guarantee agreement and the Loan agreement with the European Bank for Reconstruction and Development were signed.

On the Ukrainian side, the amendments to the Guarantee Agreement were signed by the Minister of Finance of Ukraine Sergii Marchenko and CEO of Ukrenergo Volodymyr Kudrytsky.

EUR 50 million under the current Transmission Grid Modernization Project will be repurposed into emergency liquidity support for Ukraine's transmission system operator to ensure its stable operations under martial law.

The repurposed part of the EBRD loan will be secured by a guarantee from the European Fund for Sustainable Development, which is the financial mechanism of the EU External Investment Plan.

The Minister of Finance of Ukraine Sergii Marchenko noted that cooperation with international partners is one of the main priorities of the Ministry of Finance today and expressed his gratitude for the support provided by EBRD and EU under the conditions of military aggression of the Russian Federation.

The loan to support the liquidity of Ukrenergo is part of the EBRD's assistance package in response to the war in Ukraine, which envisages the allocation of EUR 2 billion to support Ukraine's sustainability and help the affected countries.