Rada increases volume of govt guarantees for Ukrenergo by UAH 1.1 bln to join European power system

11:34, 16.03.2022 1 min read

The amount of government guarantees, under which NPC Ukrenergo can attract financing from the German Recovery Credit Institution (KfW), has been increased from UAH 823.68 million to UAH 1.939 billion, the relevant bill on amendments to the state budget 2022 (No. 7167) the Verkhovna Rada adopted on Tuesday by 342 affirmative votes.

According to it, funds are attracted for the implementation of the Improvement of Power Transmission Efficiency (reconstruction of transformer substations)-ІI project and the Improvement of Power Transmission Efficiency (integration of the Ukrainian IPS into the European unified power system)-III project.

The government guarantees for Ukrenergo were increased by reducing guarantees for other projects by the same amount, to UAH 26.307 billion.