Espreso. Global

Germany's €88.5 million support will boost Ukraine's energy sector

21 December, 2023 Thursday
17:50

Germany has pledged an additional €88.5 million to fortify Ukraine's energy system, which is grappling with the aftermath of Russia's actions

This commitment is detailed in a joint statement from the foreign affairs and economy ministries, published on December 21.

Following the statement, the Ministry of Economy will channel €54.3 million through the state bank KfW, while the Ministry of Foreign Affairs will allocate €34.2 million to Ukraine's Energy Support Fund.

"Russia’s airstrikes are targeting Ukraine’s energy infrastructure also in the second winter of Russia’s war of aggression against the country," emphasized the ministries.

The report highlights that a portion of the funds will be directed toward financing critical spare parts and equipment, including transformers and generators, crucial for sustaining Ukraine's energy supply. The remaining funds will support projects aimed at transitioning to green energy.

"The contributions to the Energy Support Fund are part of the Federal Government’s winter package of over 1.6 billion euro for Ukraine this year, which also includes military contributions to air defense, development policy support and humanitarian assistance," the ministries elaborated.

  • On November 29, the German government had previously announced a €56 million allocation to Ukraine. This funding is designated for the repair of energy facilities and the transfer of over 350 generators.
     
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