The Government has approved a decision that will allow it to receive EUR 200 million from the European Investment Bank to ensure the operation of Kaniv, Kremenchuk and Dnipro HPPs. This was announced by Prime Minister Denys Shmyhal at a meeting of the Cabinet on January 28. These funds are needed to purchase equipment to recover from the russian terrorist attacks.
Also, according to the Prime Minister, the meeting decided to raise EUR 100 million from the EIB to invest in the modernisation of district heating and energy efficiency in Ukrainian communities. This includes the purchase of boilers, engines, turbines and related equipment.
“In this way, we are strengthening our energy resilience,” said Denys Shmyhal.
The Prime Minister stressed that Ukraine had the resources to finance all planned expenditures in 2025.
“This year we will receive more than EUR 12 billion from the European Union under the Ukraine Facility programme. We are confidently fulfilling our obligations under this programme. In the last quarter of last year, we achieved 13 defined indicators. We plan to meet another 16 in the first quarter of 2025,” the Prime Minister said.
In addition, according to the Head of Government, cooperation with the IMF continues, with 4 tranches of more than $2.5 billion expected under the Extended Fund Facility.
The Government also plans to receive funds under the G7 ERA initiative.
“This is a resource from the proceeds of russia’s frozen assets. Its total amount is $50 billion, of which $20 billion will be provided by the European Union,” said Denys Shmyhal. (Government portal)