Ukraine's Ukrenergo grid operator secured 300 million euros ($315 million) in loans from the European Bank for Reconstruction and Development (EBRD) to restore power infrastructure damaged in Russian attacks and improve financial stability, the company said in a statement on Thursday.
Ukrenergo said 150 million euros of the loan and a 72 million euros grant from the Nerherlands will be used for the purchase of equipment needed for the repairs of substations damaged or destroyed in Russian missile strikes.
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The remaining 150 million euros of EBRD funds will be allocated for the "company's financial obligations in the electricity market in terms of non-payments that arose on the market due to the war," Ukrenergo said in a statement on its website.
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