EBRD will allocate 150 million euros for the modernization of Ukrainian power grid

ЕБРР выделит 150 млн евро на модернизацию украинских электросетей

The Cabinet approved the involvement of 149 million euros from the European Bank for reconstruction and development (EBRD) for the project of modernization of the transmission network. About it reported in a press-service of the Ministry of Finance.

“The project will be implemented by SE “NPC “Ukrenergo” and will improve the efficiency and reliability of electricity transmission in the Western, Northern, southern and Central regions of Ukraine”, – stated in the message.

The project involves the replacement of transformers and reconstruction of 12 substations with automated control systems of technological processes at the substations.

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The set of measures envisaged by the project, will allow to operate the equipment of substations from regional centres in real time without the constant presence at the facilities operational staff.

EBRD may provide “Naftogaz Ukraine” a loan of 60 million euros for import of natural gas. The support of the EBRD in the form of a letter of credit will cover up to 20-30% of the payment risk, “Naftogaz” associated with financing the purchase of gas from international traders without recourse to sovereign guarantees.

EBRD provided a loan of 3 million euros for the financing of the investment program of the Ukrainian woodworking company “Tsunami”. As a result of implementation of the project will be implemented new methods of waste management that will reduce the amount of oak raw materials required for the production of lamella, 23%, or 3,000 tons per year.

EBRD may buy trolleybuses for the fleet sue “Hersonelektrotrans”. According to EBRD for credit to be acquired is a 12-meter trolleybuses with low floors (including equipment for diagnostics, repair, maintenance, tools, spare parts and certain services), funds will be directed to modernization of the contact network (replacement and expansion) and modernization of traction substations.

The EBRD adopted a project of opening a credit line under the program “Promoting trade Finance” (Trade Facilitation Programme) with a total volume of $ 40 million for “Ukrgasbank”. This transaction will allow the UGB to expand its correspondent network, to increase volumes of trade Finance, to access new international markets and expand the product range of trade Finance.

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