Germany to boost investment in Ukraine's energy sector to €450 million
Photo: Katerina Reiche (Vitalii Nosach, RBC-Ukraine)
Germany will soon increase its investment in the restoration of Ukraine's energy sector following Russian attacks to €450 million. The funds are expected to be used very efficiently.
This was announced by German Energy Minister Katharina Reiche in response to a question from an RBC-Ukraine correspondent.
"We will continue to raise contributions to Ukraine's energy support fund. Germany has already provided €390 million, €30 million was agreed on in the summer, and today I want to announce that we will invest an additional €30 million," Reiche said.
According to her, Germany plans to provide a total of €450 million.
"These will be well-invested funds, and they represent almost a third of the entire energy support fund for Ukraine. This money will allow us to purchase the necessary technical equipment to save Ukraine," added the German energy minister.
According to Ukraine's Energy Minister Svitlana Hrynchuk, the support fund currently totals €1.2 billion.
Background
Earlier, it was reported that Germany allocated a new aid package of €60 million to Ukraine, which will be directed to the restoration of damaged energy infrastructure.
Previously, German Finance Minister and Vice-Chancellor Lars Klingbeil stated that Germany would participate in providing security guarantees for Ukraine together with European partners. However, negotiations are still in the early stages and the details will be determined by Kyiv.
Klingbeil also noted that Russian dictator Vladimir Putin should not have any illusions about Germany’s support for Ukraine weakening. "Ukraine can continue to rely on Germany," he said.
In addition, it was reported that Germany will provide Ukraine with €9 billion annually over the coming years.
