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Rebuilding Ukraine: Germany allocates additional €250 mln to Ukraine Energy Support Fund

rubryka.com

Rebuilding Ukraine: Germany allocates additional €250 mln to Ukraine Energy Support Fund

Germany is the largest donor to the Ukraine Energy Support Fund. Together with the contribution announced today, Germany's total contribution will amount to 807 million euros. Overall, donors have already contributed more than 2.4 billion euros to the Fund.

"However, amid constant Russian attacks, the needs of Ukrainian energy companies remain significant. We need to raise an additional 561.5 million euros for the Fund. We count on further support from our partners," Denys Shmyhal said.

Background

As Rubryka reported earlier, more than 58 tonnes of energy equipment provided by German partners were transferred from the warehouses of Ukraine's Energy Ministry's emergency energy assistance hubs to critical infrastructure enterprises in Lviv, Dnipropetrovsk, Zakarpattia and Kirovohrad regions.

Rubryka previously reported that 55 units of specialized electrical and auxiliary equipment, provided by the Belgian distribution system operator Fluvius System Operator, had been transferred from the emergency energy assistance hubs of Ukraine's Ministry of Energy to a municipal enterprise in the Kyiv region.

In addition, five Ukrainian regions received more than 80 tonnes of energy equipment from Iceland.

Rubryka earlier reported that Iceland's Ministry of Foreign Affairs made an additional contribution of 550,000 euros to the Ukraine Energy Support Fund. This brought Iceland's total contribution to almost 9 million euros.

It is worth noting that Ukraine still needs to raise about 650 million euros to prepare its energy system for the next heating season fully. Prime Minister Serhii Koretskyi said this, stressing that the coming winter will be difficult and that the pace of international support must not slow down.

The Ukraine Energy Support Fund, or UESF, was created in spring 2022 in coordination with the European Commission and Ukraine's Energy Ministry to counter the consequences of Russian attacks targeting critical energy infrastructure.

It is an effective tool that enables governments, international financial institutions, international organizations, and corporate donors to provide financial support to the Ukrainian energy sector's efforts to eliminate this damage and ensure uninterrupted operations.

Contributions to the Fund finance the most urgent needs of Ukrainian energy companies, including equipment, spare parts, and other technical resources, as well as fuel and services needed to restore infrastructure and ensure energy and heat supply in Ukraine.

Ukraine's Energy Ministry said the Fund's budget has exceeded 2 billion euros since it began operating. The money came from 39 foreign donors from 26 partner countries, as well as from three international organizations.

In particular, as Rubryka reported earlier, Sweden recently contributed 124.1 million euros, or 1.37 billion Swedish kronor, to the Ukraine Energy Support Fund. This brought Sweden's total contribution to more than 386 million euros. The contribution, provided through the Swedish International Development Cooperation Agency, marked an important milestone for the fund as a whole, pushing total contributions to the fund above 2 billion euros since its creation.

Denmark also contributed an additional 10.66 million euros, or 80 million Danish kroner, to the Ukraine Energy Support Fund. This brought the Kingdom's total contribution to the fund to 78.5 million euros.

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