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Germany pledges €77.6 million to Ukraine’s energy support fund for critical energy restoration

Gravatar Avatar Web Desk | 11 months ago

The Ukraine Energy Support Fund (UESF) has been bolstered by a new €77.6 million grant from KfW, on behalf of the German Federal Ministry of Economic Affairs and Climate Action. This donation arrives as Ukraine marks the sombre milestone of 1,000 days since the Russian invasion.

The newly allocated funds will be directed towards purchasing essential spare parts and equipment for energy sector companies that have been severely impacted by the ongoing war. A significant portion of the funds—30%—will be used to advance clean energy solutions, including expanding renewable energy generation capacity.

Established in 2022 by the Energy Community Secretariat (ECS), which is co-chaired by the European Commission, the UESF aims to mitigate the devastating impact of Russian attacks on Ukraine’s energy infrastructure. The fund facilitates contributions from governments, international financial institutions, and private sector donors to support urgent restoration efforts.

With this latest contribution from Germany, total pledges to the UESF have now reached €894 million, marking a significant step towards rebuilding Ukraine’s energy sector in the face of ongoing challenges.

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