Image courtesy European Commission
The European Union (EU) has announced €265 million ($309.8 million) to stabilise the energy grid, rebuild renewable energy capacity, and improve energy efficiency in Ukraine.
The investment is part of a €2.3 billion ($2.7 billion) package of agreements announced by European Commission president, Ursula von der Leyen, to support Ukraine’s recovery and reconstruction efforts.
The package was signed with international and bilateral public financial institutions under the Ukraine Investment Framework, including €1.8 billion ($2.1 billion) in loan guarantees and €580 million ($678.1 million) in grants. It is expected to mobilise up to €10 billion ($11.7 billion) in investments in Ukraine.
Other agreements under the package include:
- €600 million ($701.6 million) to mobilise strategic investments in large-scale private sector projects across the energy, transport, and manufacturing sectors
- €500 million ($584.6 million) to support SMEs
- €520 million ($608 million) to war-affected cities and communities
- €310 million ($362.4 million) to repair and rebuild critical infrastructure, including housing, hospitals, and medical facilities.
More from the Ukraine Recovery Conference:
Italy and Ukraine’s TSOs partner on power system management
DTEK and Fluence battery project goes into commissioning
Von der Leyen announced the package during the Ukraine Recovery Conference, saying: “Today, the EU reaffirms its role as Ukraine’s strongest partner.
“Not just its top donor, but a key investor in its future. With €2.3 billion in agreements signed, we aim to unlock up to €10 billion in investments to rebuild homes, reopen hospitals, revive businesses, and secure energy. This is solidarity in action.
“Ukraine is moving closer to the EU every day – in energy, education, roaming, and culture. Europe stands with Ukraine — today and tomorrow.”
With the launch of the new investment package, total EU commitments under the Ukraine Investment Framework now amount to €5.7 billion ($6.7 billion), expected to leverage over €18 billion ($21 billion) in investments.
