Iceland joins the countries supporting Ukraine via the Ukraine Energy Support Fund
The Energy Community Secretariat, in its roles as the fiduciary of the Ukraine Energy Support Fund, is pleased to announce the signing of a fiduciary agreement between the Ministry for Foreign Affairs of Iceland and the Energy Community Secretariat. With its signature, Iceland grants EUR 1.5 million to the benefit of Ukrainian energy companies and its citizens exposed to the impact of the Russian war.
Iceland is the sixth European country, after the United Kingdom, Denmark, Germany, Austria and Spain, opting to support the Ukrainian energy sector via the Ukraine Energy Support Fund, alongside the European Commission, ERRA and REKK. As of 3 February 2023, the accumulated contributions now amount to more than EUR 157 million.
ON THE UKRAINE ENERGY SUPPORT FUND:
The Energy Community Secretariat acts as the fiduciary of the Ukraine Energy Support Fund, which was established to purchase fuels, equipment, services and capital needed to repair and rebuild energy infrastructure affected by the ongoing Russian aggression. The funds will be disbursed on the basis of the contractual framework between Iceland as donor, the Secretariat and the Ministry of Energy of Ukraine. The procurement of the equipment and other needed items is conducted by an independent procurement agent. Potential vendors are invited to notify availability of energy equipment to be purchased from the fund via a dedicated web page.