Germany Allocates €85.5 Million to Energy Support Fund of Ukraine

Thursday, 21 December 2023

The German government has allocated another €88.5 million to the Energy Support Fund for Ukraine under the European energy community.

"The Federal Ministry of Economy and Climate Protection provides €54.3 million through KfW, and the Federal Ministry of Foreign Affairs – €34.2 million. This is due to the fact that during the second winter of Russian aggression against Ukraine, Russian airstrikes also target the Ukrainian energy infrastructure," reports press service of the German government.

Ukraine uses the funds of the Energy Support Fund to finance the purchase of energy sources, spare parts, and equipment, such as transformers and generators, which help maintain Ukraine's energy supply, as well as repair destroyed substations and power plants to continue providing the population with electricity and heat. 

The remaining funds will be used for green energy transition projects, such as photovoltaic systems in public buildings, as well as for the green restoration of Ukraine. 

At the end of 2022, the German government has paid €129.5 million to the Energy Support Fund. Thus, Germany's total contribution is €218 million.  

Germany remains the largest investor in the fund, which has raised about €400 million since February 2022. 

The German government added that contributions to the Energy Support Fund are part of a winter package for Ukraine worth more than €1.6 billion this year, including military contributions to air defence, development policy support and humanitarian assistance. 

On 20 December, the Swiss Federal Council allocated an additional 11.8 million Swiss francs (€12.5 million) to help Ukrainians in winter.

If you notice an error, select the required text and press Ctrl + Enter to report it to the editors.