Germany to make largest contribution to Energy Support Fund for Ukraine
The Energy Support Fund for Ukraine will receive 50 million euros from Germany (Getty Images)
Germany will make a new contribution of €50 million to the Ukraine Energy Support Fund, bringing the country’s total contribution to the fund to over €275 million, citing Ukraine's Ministry of Energy.
"This is the largest donor contribution to the fund, which currently holds over €545 million," the report states.
According to the press service, since March 2022, Ukraine has received 120 shipments of humanitarian aid for the energy sector from Germany, totaling over 1,670 tons. These shipments included transformers, generators, cables, fittings for overhead lines, and other equipment necessary for restoration work.
The Ukraine Energy Support Fund was established in the spring of 2022. In recent weeks, Australia, the United Kingdom, Austria, Sweden, Iceland, and Estonia have also contributed or declared intentions to contribute to the fund.
The Cabinet of Ministers passed a resolution stipulating that the Ukraine Energy Support Fund will compensate bank interest rates on loans for households to purchase and install photovoltaic modules and/or wind turbines with a capacity from 1 kW to 10 kW, along with hybrid inverters. The maximum loan amount is 480,000 hryvnias (11,015 euros - ed.), with a term of up to five years.
