16:30 23.04.2020

EBRD ready to provide financial support to Ukrenergo to partially cover company's deficit

1 min read
EBRD ready to provide financial support to Ukrenergo to partially cover company's deficit

The European Bank for Reconstruction and Development (EBRD) is ready to provide financial support to the electricity transmission system operator Ukrenergo to cover its deficit, EBRD Senior Banker for Power and Energy Projects Olga Yeriomina has said.

"In particular, we have already written a letter to the minister with a proposal to discuss in detail our support plans for Ukrenergo, including renewable generation, payments in the industry," she said during an online meeting organized by the European Business Association (EBA), dedicated to the country's energy security amid the crisis.

She also added that the bank is currently in negotiations with the Ministry of Finance.

In addition, the EBRD representative noted the need to attract other international financial organizations to support the company.

"Our financing will most likely not cover the entire Ukrenergo liquidity shortage, so it would not be bad if other international financial institutions join our initiative," she said.

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