Ukraine’s Energy Support Fund, established in April 2022 by the Energy Community Secretariat, has already accumulated approximately $220 million and is expected to increase to $300 million by the end of the year, Energy Minister German Galushchenko said.
“Already $220 million of donations to the Fund have been confirmed and there are still promises of additional investments. We expect to accumulate about $300 million by the end of the year,” he said on the air of the national telethon United News on Saturday.
According to him, this Fund is a very important and unique instrument contributing to the restoration of Ukraine’s energy sector, as well as testifying to the trust in Ukraine.
The Minister explained that the money of the Fund, the main donors of which are governments of friendly states, is used through USAID to purchase and transfer to energy companies the equipment they need, according to their requests, which are collected by the Ministry of Energy.
As reported with reference to the Ministry of Energy, as of the beginning of March, the Ukrainian Energy Support Fund received EUR151m, of which approximately EUR138m was allocated for the needs of Ukrainian energy companies.
The Energy Ministry specified that the funds were received, in particular, from Germany, the UK, Spain, Iceland, Denmark, the European Commission, the Regional Association of Energy Regulatory Authorities (ERRA) and the Regional Center for Energy Policy Research.
