EIB will provide EUR 211 million to Ukraine
Ukraine and European Investment Bank (EIB) signed agreements on the financing in the amount of EUR 211 million.
It goes about the guarantee agreement between Ukraine and the EIB (project “Substations Reliability Enhancement Programme") and the financial agreement between Ukrenergo and EIB.
The signed agreement will allow to attract loan funds of EIB for the financing of the project in the amount of EUR 136 million, provided under the long term state guarantee (15 years) and low interest rates.
The aim of Substations Reliability Enhancement Programme is to increase the efficiency and reliability of Ukraine's power system for integration to European Network of Transmission System Operators for Electricity (ENTSO-E) by replacing outdated equipment and substation automation of South-Eastern region of Ukraine.
The Ministry of Finance of Ukraine and the European Investment Bank signed Memorandum for financing Ukraine Urban Road Safety project.
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