19 Feb 2024 14:07

Ukrhydroenergo receives 200 mln euros of financial support from EBRD

MOSCOW. Feb 19 (Interfax) - Ukrhydroenergo and the European Bank for Reconstruction and Development signed a signed a Loan Agreement to finance the "Emergency Recovery of Hydropower Plants" project on February 17.

"The package of documents also included an Accession Statement between Ukrhydroenergo, the Italian government, Cassa Depositi e Prestiti S.p.A., a development bank acting as an administrator on behalf of the Italian Economy and Finance Ministry, the Reconstruction Fund for Development Cooperation and the EBRD, as well as a Guarantee Agreement signed by Ukraine, the EBRD and the Italian government," Ukrainian media quoted Ukrhydroenergo as saying on social media.

The EBRD loan of 100 million euros, supported by a parallel concessional loan of 100 million euros from Italy, will provide extraordinary support for the recovery and maintenance needs of the company's power generation.

The credit line of 200 million euros under state guarantees will be provided in two tranches. It will include 150 million euros to finance the supply of critical equipment for the Dneprovskaya and Serednedneprovskaya hydropower plants as well as 50 million euros to provide emergency liquidity to Ukrhydroenergo to ensure the company's operational stability.