“The loan will help state-owned Ukrhydroenergo purchase stockpiles of critical supplies and replacements for equipment damaged by Russian attacks, as well as to refurbish and modernize old equipment.” ~ @kyivindependent_official 🇺🇦💶💙💛🇪🇺🇺🇦
#Repost @kyivindependent_official with @use.repost_ . . . Ukraine’s largest hydropower company received a new financial boost via a 75 million euro ($88 million) loan agreement from the European Bank for Reconstruction and Development (EBRD) on Jan. 8, amid relentless Russian attacks on Ukraine’s energy infrastructure.
The loan will help state-owned Ukrhydroenergo purchase stockpiles of critical supplies and replacements for equipment damaged by Russian attacks, as well as to refurbish and modernize old equipment.
The loan is part of a larger 120 million euro ($140 million) recovery project that includes 20 million euros ($23 million) in investment grants from international donors and Ukrhydroenergo’s own money.
The project also covers training programs for engineering staff for professional development, as well as improving environmental practices and a gender action plan.
“The project will enhance the reliability of hydropower plants and, accordingly, the stability of Ukraine’s power system,” said Valentyn Gvozdiy, head of Ukrhydroenergo’s supervisory board, in a statement.
“It is an important confirmation of international partners’ confidence in Ukrhydroenergo and the quality of the company’s corporate governance.”
Read the full story at the link in bio.
Photo: Ukrhydroenergo.
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