Prime Minister of Ukraine Yulia Svyrydenko has announced agreements with President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso to speed up the creation of financial instruments that will enable the activation of imports of additional volumes of natural gas and attract private investment in the construction of power plants.
"At a meeting with President of the European Bank for Reconstruction and Development Odile Renaud-Basso, we agreed to accelerate the implementation of several key projects," she wrote on Telegram on Friday.
According to her, the first is the provision of financial instruments for the import of additional volumes of natural gas to compensate for the loss of domestic production due to Russian attacks.
The second is the launch of the RAMP UP mechanism, which the EBRD is implementing together with the EU. "Its goal is to attract private investment in the construction of new power plants in Ukraine by providing investors with the necessary financial guarantees. The approval of the guarantee structure is expected to be completed as early as mid-July, and the launch of the first tenders for investors is expected by the end of the year," Svyrydenko wrote.
They also agreed to expand financing programs for Ukrainian businesses. This primarily concerns medium-sized companies that have already outgrown small business support programs but do not yet have sufficient access to credit resources. "Together with the EBRD, we are working on new guarantee instruments so they can invest and scale up production," Svyrydenko added.
"Separately, we discussed support for projects at the Chornobyl NPP. We are working with international partners to attract additional financing for the implementation of critically important work following the Russian attack on the New Safe Confinement," the Prime Minister reported.
