G7+ partners announce additional assistance to Ukraine's energy sector worth over billion dollars

G7+ partners announce additional assistance to Ukraine's energy sector worth over billion dollars

At a high-level meeting of the G7+ Coordination Group to assist Ukraine's energy sector in Berlin, additional assistance to Ukraine's energy sector totalling more than USD 1 billion was announced.

According to Ukrinform, this was reported by the Ministry of Energy of Ukraine.

"The G7+ partners have announced additional assistance to the energy sector worth more than USD 1 billion after the latest attacks, namely more than EUR 70 million in new grant contributions to the Energy Support Fund of Ukraine, USD 500 million in new funding from the United States to support the energy sector, EUR 300 million in additional funding from the EBRD, at least USD 47 million in additional grant from the World Bank and donations in the form of humanitarian aid from EU member states," the statement said.

The participants of the meeting, including State Secretary of the German Foreign Ministry Susanne Baumann, US Deputy Secretary of State Jeffrey Payette, Director of the Energy Community Secretariat Artur Lorkowski, and IRENA Director General Francesco La Camera, condemned Russia's attacks on Ukraine's energy sector. They called for accountability for those involved in these attacks on critical infrastructure, which have a devastating impact on the lives of civilians.

In addition, the partner countries noted the importance of ENTSO-E's efforts to increase electricity exports to Ukraine and stressed that they would increase their efforts to provide equipment to repair damaged energy production and transmission infrastructure before the winter period of 2024-2025.

Read also: EU exploring offers to Ukraine in terms of energy support – EC Vice President

The statement also referred to the intensification of efforts to strengthen the physical protection of key components of the power grid, air defence, as well as the implementation of decentralisation solutions and the installation of distributed power generation equipment.

As reported, 12 cooperation agreements with financial institutions and energy companies were signed during the International Conference on Ukraine's Recovery URC 2024 in Berlin.

Photo: Ministry of Energy of Ukraine

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