Federal Ministry for Economic Affairs and Climate Action of Germany contributes nearly EUR 100 million to Ukraine Energy Support Fund
The Federal Ministry for Economic Affairs and Climate Action of Germany has announced a EUR 99,5 million contribution to the Ukraine Energy Support Fund. The grant agreement was signed today between the Energy Community Secretariat and the German Development Bank KfW. The bank was commissioned by the Ministry to implement the agreement on behalf of the German Government.
The contribution will be used to finance the purchase of equipment, spare parts and other technical items as well as fuel, electricity, heat and services needed to repair energy infrastructure and maintain energy supply in Ukraine. The funds will be disbursed on the basis of a fiduciary agreement between the Secretariat and the Ministry of Energy of Ukraine.
The donation is in addition to the contribution of EUR 30 million by the Federal Foreign Office of Germany.
The Energy Community Secretariat acts as the fiduciary of the Ukraine Energy Support Fund, which was established to enable Ukraine to receive donations to finance the purchase of fuels, equipment, services and capital needed to repair energy infrastructure damaged under the ongoing Russian aggression especially targeted at Ukraine’s energy infrastructure.