{"id":87091,"date":"2023-05-02T21:39:24","date_gmt":"2023-05-02T18:39:24","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=87091"},"modified":"2023-05-02T21:39:24","modified_gmt":"2023-05-02T18:39:24","slug":"italy-offers-e10-m-to-support-ukraines-electricity-sector","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/italy-offers-e10-m-to-support-ukraines-electricity-sector\/","title":{"rendered":"Italy offers \u20ac10 m to support Ukraine\u2019s electricity sector"},"content":{"rendered":"

Italy, a founding member of the European Bank for Reconstruction and Development (EBRD) and a strategic partner, signed an agreement to provide grants worth up to \u20ac10 million to support the bank\u2019s operations in Ukraine, in particular to support the electricity transmission system operator, Ukrenergo.<\/p>\n

To ensure continued provision of vital energy services to affected people and businesses, the Bank has been focusing on providing working capital and grants to the two leading state owned energy companies Ukrenergo and Naftogaz. The funding from Italy will help provide Ukrenergo with liquidity and carry out emergency repairs.<\/p>\n

The EBRD<\/a> strongly condemned the Russian invasion of Ukraine from the start, and had an immediate and wide-ranging response, channeling finance and\u202fassistance where needed most. The Bank continued to disburse funds to clients, for example by providing working capital, and enhanced the Trade Facilitation Program to provide extra support for the import and distribution of essential goods. The support for Ukraine targets five main\u202fareas; trade finance, energy security, vital infrastructure and provision of liquidity to municipalities, food security and the private sector.<\/p>\n

Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus, said \u201cThe EBRD is encouraged by Italy\u2019s strong cooperation and contribution, which allows us to continue our efforts in supporting the Ukrainian economy during wartime and beyond.\u201d<\/p>\n

Italy joins a number of\u00a0donors<\/a>\u00a0that have responded through the EBRD to the financial and technical support of Ukraine. Some \u20ac1.4 billion has been generously made available to date for operations aimed at keeping the Ukrainian economy going and ensuring energy security, adequate transportation and support for small businesses, among other things.<\/p>\n

The EBRD is supporting Ukraine and its real economy at a time when the country needs it most. The Bank has committed to providing \u20ac3 billion of financing over 2022 and 2023 in partnership with international donors to help keep Ukraine\u2019s businesses and economy functioning. In 2022 the EBRD deployed \u20ac1.7 billion in support of Ukraine. It also mobilized \u20ac200 million directly from partner financial institutions. The Bank has been operating in Ukraine for more than three decades and is the largest institutional investor in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Italy, a founding member of the European Bank for Reconstruction and Development (EBRD) and a strategic partner, signed an agreement to provide grants worth up to \u20ac10 million to support the bank\u2019s operations in Ukraine, in particular to support the electricity transmission system operator, Ukrenergo. To ensure continued provision of vital energy services to affected […]<\/p>\n","protected":false},"author":410,"featured_media":87092,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13330,984],"tags":[],"yoast_head":"\nItaly offers \u20ac10 m to support Ukraine\u2019s electricity sector - Csr Egypt<\/title>\n<meta name=\"description\" content=\"Italy signed an agreement to provide grants worth up to \u20ac10 million to support the bank\u2019s operations in Ukraine, in particular to support the electricity transmission system operator, Ukrenergo.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/csregypt.com\/en\/italy-offers-e10-m-to-support-ukraines-electricity-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Italy offers \u20ac10 m to support Ukraine\u2019s electricity sector - 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