Germany to provide Ukraine with $49 million for power grid repairs

Ukrainian Energy Minister Herman Halushchenko and German Federal Minister for Economic Development Svenja Schulze
Ukrainian Energy Minister Herman Halushchenko and German Federal Minister for Economic Development Svenja Schulze

The German government has announced a grant of EUR 45 million ($48.5 million) to Ukraine for the restoration of its energy sector, which has suffered extensive damage due to Russian attacks, Ukraine’s Energy Ministry said on May 9.

The agreement was signed during a meeting between Ukrainian Energy Minister Herman Halushchenko and German Federal Minister for Economic Development Svenja Schulze. The funds will be disbursed via the German development bank KfW.

"It is very important for us that the funds can be directed towards various aspects of the restoration and strengthening of the resilience of transmission system facilities that are under enemy attacks," said Halushchenko.

Read also: London allocates $25 million to help repair Ukraine’s power grid

A portion of the funds will be allocated to improve Ukraine’s energy efficiency with modern equipment.

Since February 2022, KfW has provided more than EUR 177 million ($191 million) in loans and grants to restore and develop Ukraine’s power grid.

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Read the original article on The New Voice of Ukraine