16:51 20.01.2023

DTEK urges IFIs to open access to lending to private energy companies to restore destroyed infrastructure

2 min read
DTEK urges IFIs to open access to lending to private energy companies to restore destroyed infrastructure

DTEK Energy Holding has called on international financial institutions (IFIs) to provide Ukrainian private companies with access to loans to purchase equipment needed to restore the energy infrastructure destroyed by Russian shelling.

"I would like to ask the IFIs: could they change the rules and procedures so that private energy companies in Ukraine, which is at war, could receive funding from them," Yulia Burmistenko, Advisor to Chief Executive Officer on International Affairs at DTEK, said at the World Economic Forum (WEF) in Davos.

She said that since the beginning of large-scale Russian aggression, DTEK facilities have been suffered from 162 attacks by cruise missiles, drones and artillery. This led to the destruction and damage of many thousands of units of power generating and power grid equipment.

According to Burmistenko, DTEK currently receives some of the necessary equipment through the Ministry of Energy of Ukraine and from international energy companies, but given the scale of the ongoing shelling, it is necessary to intensify its purchases to promptly restore facilities and supply electricity to consumers.

As Interfax-Ukraine was told by a source in the EBRD, discussions are already underway in the bank about a possibility of lending to DTEK. The source assessed as a fairly likely positive decision on this issue, given the role of the energy holding in the Ukrainian energy market, the degree of damage to its facilities and the accumulated history of international financing.

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