Western donors transfer nearly 400 mln euros to Ukraine's Energy Support Fund

MOSCOW. April 8 (Interfax) - Donors from the European Union countries, the United Kingdom and the United States, international and regional organizations and companies have transferred over 393 million euros, or nearly 397 million euros if interest included, to the Ukraine Energy Support Fund over two years of its operations, Ukrainian media reported citing the Energy Ministry.

The largest sponsor since 2022 is Germany, whose institutions and organizations have transferred 225 million euros to the fund, the ministry said in a statement.

The fund will soon get the previously announced contributions, thus it will be worth over 400 million euros, the statement said.

The fund's assets are placed on a special account in an Austrian bank, the sole holder of which is the Energy Community Secretariat the statement said. The secretariat manages the fund on behalf of and on instructions of the Ukrainian Energy Ministry, which is the fund's co-founder and its sole beneficiary. The assistance is forwarded to Ukrainian state-owned and private energy companies whose operations are critical for the Ukrainian energy system. A working group at the Ukrainian Energy Ministry is supervising the processing of their requests, the statement said.

The substantial money from the fund is allocated for the needs of energy companies in the Kharkov, Odessa, Sumy, and Kiev regions, as well as in Kiev.

The Ukraine Energy Support Fund was established under the Energy Community Secretariat in April 2022.