Transformers and equipment: how much donors have transferred to the Energy Support Fund of Ukraine
2 March 15:23
In February, the Energy Support Fund of Ukraine received grant contributions totaling €208.8 million.
This was reported by the Ministry of Energy of Ukraine, according to "Komersant Ukrainian".
The funds were provided by the governments of Norway, Ireland, the Netherlands, Australia, and Sweden.
New commitments and expected revenues
The ministry also reported the signing of documents on additional grants and new donor commitments.
The following is expected:
- €2.8 million from Iceland;
- €500,000 from Slovenia;
- €12.4 million from Canada;
- €1.5 million from Croatia.
What the funds will be used for
Through the fund mechanism, contracts worth approximately €20.1 million were signed in February for the supply of critical equipment.
This includes transformers, other electrical equipment for networks, and uninterruptible power supply systems to improve the resilience of the energy infrastructure.
In addition, equipment worth approximately €1.5 million was delivered in February under previously signed contracts, including transformers and loading equipment for use at energy facilities.
Total amount of support
According to the Ministry of Energy, since the fund was established, it has received almost €1.849 billion from 36 foreign sponsors from 24 countries and three international organizations.
Long-term needs
Energy Minister Denys Shmyhal previously stated that the total need for the restoration and modernization of the energy sector over the next ten years is $90.6 billion.
The Ukrainian energy system has suffered significant damage as a result of Russian attacks. International financial support remains one of the key sources of resources for restoring networks and increasing their resilience.
At the same time, the amount of investment required significantly exceeds the funds already raised, which means that long-term cooperation with donors and international financial institutions is needed.
