Ukraine's Energy Support Fund attracts more than €410 million over two years

Over the past two years, the Energy Support Fund has attracted more than EUR410 million from international partners. More than EUR393 million have been transferred to the account. Source: press service of the Ministry of Energy of Ukraine

Details: "As of 9 April, we managed to attract more than EUR410 million from 13 partner countries and international organisations to the Fund. Of these, more than EUR393 million has been transferred to the account (the remaining amount is the announced contributions that will soon be transferred by sponsors)," the statement said.

These funds have been used to finance the needs of Ukrainian energy companies, including the purchase of generators, power transformers, switches, spare parts, technical equipment, materials, special equipment, fuel, and physical protection of energy facilities.  Most of the funds were allocated to meet the urgent needs of energy companies from the frontline oblasts of Kharkiv, Mykolaiv, Sumy, Zaporizhzhia, Kherson and Odesa. 

Background: 

• The government is exploring various options for financing the maintenance of Ukrainian energy facilities after new Russian attacks, and raising tariffs for consumers is not ruled out.
• Ukraine needs to strengthen its air defences to protect energy facilities from Russian missile attacks to prevent power outages in the summer, when electricity consumption approaches its winter peak.

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