The German government has announced a grant of EUR 45
million ($48.5 million) to Ukraine for the restoration of its energy sector,
which has suffered extensive damage due to Russian attacks, Ukraine’s Energy
Ministry said on May 9.
The agreement was signed during a meeting between Ukrainian Energy Minister Herman Halushchenko and German Federal Minister for Economic Development Svenja Schulze. The funds will be disbursed via the German development bank KfW.
"It is very important for us that the funds can be directed towards various aspects of the restoration and strengthening of the resilience of transmission system facilities that are under enemy attacks," said Halushchenko.
A portion of the funds will be allocated to improve Ukraine’s energy efficiency with modern equipment.
Since February 2022, KfW has provided more than EUR 177 million ($191 million) in loans and grants to restore and develop Ukraine’s power grid.