US allocates non-refundable aid for Ukraine's energy sector

WORLD  28 November 2023 - 18:29

The US government will make its first grant contribution to the Energy Support Fund of Ukraine, providing $25 million.

The agreement was signed by the US Agency for International Development (USAID) and the Secretariat of the Energy Community, RBC-Ukraine reports, citing the Ukrainian Ministry of Energy's press service.

According to the press service, the total commitments from sponsors to the Energy Support Fund of Ukraine have reached 329 million euros. Of this amount, approximately 192 million euros have been transferred to the Fund from 15 sponsors in the public and private sectors from various countries. The rest of the funds are announced and formalized contributions are expected to be deposited into the Fund soon.

The funds are used for purchasing equipment necessary for the restoration of energy companies, as reported by the press service.

In particular, from January 1 to November 27, 2023, within the Fund, 132 agreements for the purchase of energy equipment, fuel, and materials have been concluded, totalling almost 100 million euros.

The Energy Support Fund of Ukraine was established in the spring of 2022, enabling governments, international financial organizations, and private donors to provide significant support to the Ukrainian energy sector.

US assistance

The United States has already allocated $522 million for the purchase of energy equipment and to support and protect Ukraine's energy system.

Russia actively carried out massive attacks on Ukrainian energy infrastructure last year. Military officials warn that Russia is accumulating missiles for repeated large-scale attacks. However, according to Ukrainian intelligence, the scale of the shelling will be smaller this year.

As reported by the Financial Times, Ukraine is intensively preparing for possible Russian massive attacks on its energy infrastructure. Ukrainian authorities believe that this time the country is better prepared for such attacks.

Caliber.Az