PJSC Ukrhydroenergo is working to attract a total of approximately EUR 330 million from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the World Bank for reconstruction and development projects, General Director Ihor Syrota has said.

"We are now working to attract EUR 200 million from the EBRD, EUR 60 million from the EIB. This is all for restoration. We generally agreed with the EIB that the funds we are taking can be used for the temporary hydraulic construction of the Kakhovka HPP. We are also discussing additional funding of EUR70 million from World Bank to continue the implementation of the project to install storage devices," he said in an interview with Interfax-Ukraine.

At the same time, Syrota said that the company expects to receive funds in the near future.

"I hope that we will be able to receive funds from the World Bank this year. We will most likely reach an agreement with the EBRD approximately in February next year. With the EIB, too, I think, around February next year. In total, approximately EUR 330 million," the company's head said.

At the same time, Syrota said that Ukrhydroenergo has been working on raising funds since the beginning of this year, emphasizing that despite the company's reputation as a reliable partner, "in the current conditions it is not so easy." At the same time, he called such loans very profitable: "The rate there is 1-1.5%. That is, these are cheap funds."

At the same time, the director general said that he does not practice attracting loans from domestic commercial institutions, including not trying to participate in the 5-7-9% program, part of which was announced for the restoration of the energy sector.

"Why are we profitable today? Because we work well and have never taken loans from domestic banks. If we take out a loan for all our needs and take it at 23-24%, sooner or later these loans will tame... Why should I take under the 5-7-9% [program], when I will work with other financial companies, with financial institutions, banks, and I will take at 1%? It's better to work for a year and take what is profitable for the company," Syrota said, explaining his decisions.