Gap between resources of Energy Support Fund, needs of energy companies is about EUR 617 mln – Ministry of Energy

The gap between the available resources of the Ukraine Energy Support Fund, which has mobilized over EUR 1.16 billion since April 2022, and the priority needs of energy companies is approximately EUR 617 million, the Ministry of Energy reported.

"The Energy Community Secretariat [the Fund administrator] calls on all donors to increase their contributions, as currently the gap between the available resources of the Fund and the priority needs is approximately EUR 617 million," the Ministry of Energy said in a message on its Telegram channel on Wednesday.

Since the launch of the Fund in April 2022, over EUR 1.16 billion has been mobilized from approximately 33 donors. This has made it possible to conclude over 790 contracts for the supply of energy equipment, as well as to agree on commitments totaling EUR 669 million. According to the Ministry of Energy, supplies were delivered to more than 50 Ukrainian energy companies in 21 regions of Ukraine.

The same message indicates that the Luxembourg government has officially increased its contribution to the Fund to EUR 12 million, and an additional EUR 10 million has already been received and is fully available in its special account.

According to Energy Minister Herman Haluschenko, these funds will be used for urgent emergency repairs to critical infrastructure, which is being damaged daily by Russian strikes.

"We sincerely welcome this new contribution, which strengthens the role of the Fund as an effective, flexible and transparent instrument - able to respond quickly and support the comprehensive modernization of Ukraine's energy system. Each contribution helps reduce the still significant gap between available resources and priority needs to ensure Ukraine's energy sustainability," said Artur Lorkowski, Director of the Energy Community Secretariat.