The Ukrainian Energy Support Fund is set to receive a further €37 million
This has been reported by the Ministry of Energy of Ukraine.
The Ministry of Energy reported that in March, the Ukrainian Energy Support Fund received grant contributions from Iceland and Slovenia totalling €3.2 million.
The ministry also noted that documents regarding new grants have already been signed, and international partners have pledged additional funding for the Ukrainian energy sector.
In particular, contributions are expected from Canada amounting to €12.5 million, from the European Commission – €10 million, from Denmark – €5.4 million, from Germany – €4.8 million, and from Croatia – €1.5 million.
The Ministry of Energy emphasised that these funds are being directed towards supporting and restoring Ukraine’s energy infrastructure.
It was previously reported that, as part of a new financing programme, the International Monetary Fund had required Ukraine to adopt a package of tax reforms. The deadline for fulfilling these commitments is the end of March. The IMF
Executive Board had also previously approved a new four-year Extended Fund Facility (EFF) programme for Ukraine worth US$8.1 billion. The first tranche under the programme is expected shortly.
As a reminder, Ukraine has activated a new format of international coordination, which has enabled it to secure critical equipment and funding for the restoration of the power grid. Thanks to a coalition of over 40 countries and the Energy Support Fund, the country has received over €600 million and thousands of tonnes of humanitarian aid
