(MENAFN- UkrinForm) Ukraine will be able to receive EUR 200 million from the European investment bank (EIB) to ensure the operation of Kaniv, Kremenchuk and Dnipro hydroelectric power plants (HPPs), as well as EUR 100 million – to modernize centralized heating services in the country.
The relevant statement was made by Ukrainian Prime Minister Denys Shmyhal at a meeting of the Cabinet of Ministers of Ukraine, an Ukrinform correspondent reports, referring to the government portal .
“Today, we are making a decision that will allow us to receive EUR 200 million from the European Investment Bank to ensure the operation of Kaniv, Kremenchuk and Dnipro HPPs. These funds are needed to purchase equipment to recover from the russian terrorist attacks,” Shmyhal said.
Additionally, the Ukrainian government approved the receipt of EUR 100 million from the EIB to invest in the modernization of district heating and energy efficiency in Ukrainian communities. According to Shmyhal, this refers to purchasing boilers, engines, turbines and related equipment.
The Prime Minister expressed gratitude to partners for their financial support. As noted by Shmyhal, Ukraine will receive more than EUR 12 billion under the Ukraine Facility programme in 2025.
“We are confidently fulfilling our obligations under this programme. In the last quarter of last year, we achieved 13 defined indicators. We plan to meet another 16 in the first quarter of 2025. We will work intensively to ensure that everything is completed on time and in full,” Shmyhal stressed.
He mentioned that another source of Ukraine's financial stability in 2025 would be funding from the International Monetary Fund (IMF). As part of the Extended Fund Facility (EFF) Arrangement, Ukraine expects to receive four tranches worth more than USD 2.5 billion.
“The third source is funds from the G7 ERA initiative. This is a resource from the proceeds of russia's frozen assets. Its total amount is USD 50 billion, of which USD 20 billion will be provided by the European Union,” Shmyhal concluded.
A reminder that, in the second half of 2024, Ukrainian banks began to provide UAH 10.5 billion in financing for the projects aimed at strengthening the country's energy independence.
Photo: Cabinet of Ministers of Ukraine
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