The European Bank for Reconstruction and Development will provide a EUR 100 million loan to finance the rehabilitation of Ukrainian hydroelectric power plants that have been damaged and destroyed by the war. The EBRD loan was also supported by a EUR 100 million parallel concessional loan from the Italian government. The loan agreement was signed on 17 February between the EBRD and Ukrhydroenergo.

“The agreement with the EBRD is an important step towards the modernisation and development of Ukrainian hydropower facilities. The loan funds will be used to restore the equipment of power generating companies that was damaged as a result of russian missile strikes. This will ensure the stable operation of the national power system and uninterrupted power supply to consumers. We are grateful to the EBRD and the Italian government for their support and the opportunity to strengthen our power generation,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

According to the agreement, the loan will be used to purchase critical equipment for Dnipro and Sredniodniprovska hydroelectric power plants, as well as to provide emergency liquidity support to Ukrhydroenergo to ensure the company’s sustainability.