The private joint-stock company “Ukrhydroenergo” has signed an agreement with the European Bank for Reconstruction and Development (EBRD) to secure €75 million for the modernization and restoration of Ukrainian hydropower plants.
This is reported by Finway
Funding Structure and Grants from International Donors
The attracted loan financing is backed by a guarantee from the European Union under the Ukraine Investment Framework. This program aims to mobilize resources for infrastructure restoration and ensure stable economic growth in the country.
“The loan financing is supported by a guarantee from the European Union under the Ukraine Investment Framework — a tool for mobilizing funding for the restoration of Ukraine and its long-term growth,” the statement reads.
In addition to the credit line, the financing package includes grants from international donors totaling up to €20 million. The total cost of the project, including Ukrhydroenergo’s own contribution, will be approximately €120 million.
Key Investment Areas
The funds will be directed towards the procurement of critically important equipment for designated hydropower plants. Furthermore, this project plans to implement programs for the upskilling of engineering personnel, improve ESG practices (environmental, social, and governance standards), and prepare an action plan to ensure gender equality.
The project is expected to be completed by 2030.