Ukraine Energy Support Fund

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Russia's war of aggression against Ukraine is causing devastating destruction in the Ukrainian energy sector. Especially since the beginning of October 2022, Russia has launched massive waves of attacks on civilian infrastructure. Thermal and hydroelectric power plants, as well as power transmission, have been severely damaged. As a result, many people are without electricity and heating. At the request of the European Commission and in agreement with the Ukrainian Ministry of Energy, the Secretariat of the European Energy Community has set up the Ukraine Energy Support Fund to mitigate the effects of the Russian invasion of Ukraine on the energy sector. The Ukraine Energy Support Fund is designed as a basket financing so that different donors can participate. The Secretariat of the European Energy Community acts as a trustee of the donor funds for the Ukrainian Ministry of Energy. The funds of the Ukraine Energy Support Fund are used to finance energy sources (especially fuels) and technical equipment (spare parts, equipment, etc.) for Ukrainian energy companies as final beneficiaries, which are necessary for the stable continued operation of the Ukrainian energy infrastructure in the current war context. The Ukrainian Ministry of Energy, supported by an international consulting company, decides on the funding applications of the Ukrainian energy companies. The Secretariat of the European Energy Community pays the funds from the Ukraine Energy Support Fund directly to the suppliers of the energy sources and technical equipment. The Federal Ministry for Economic Affairs and Climate Protection (BMWK) is supporting the Ukraine Energy Support Fund with EUR 99.5 million via KfW. The Federal Government is thus making an important contribution to supporting Ukraine, particularly in maintaining the Ukrainian energy sector in the current situation.