Ukrenergo to receive Dutch grant of 70 mln euros to buy equipment

MOSCOW. Dec 30 (Interfax) - Ukrainian power system operator Ukrenergo and the European Bank for Reconstruction and Development (EBRD) have signed an agreement on a grant of 70 million euros for the company from an EBRD special fund and provided by the Dutch government, Ukrainian media reported, quoting Ukrenergo CEO Vladimir Kudritsky.

The money will be used to purchase equipment to get Ukraine's energy infrastructure up and running again, Kudritsky said on social media.

"Now we are working closely with manufacturers around the world to supply the necessary equipment as soon as possible," he said.

The Ukrenergo Ukrainian grid operator said at the beginning of December that it had secured 300 million euros in loans from the EBRD, of which 150 million euros to buy equipment repair damaged substations and 150 million euros to replenish the company's working capital and honor the company's financial obligations in the electricity market in terms of non-payments.