EU Bank lends €136m to modernise Ukraine’s energy infrastructure

The money will help upgrade 12 electricity substations and establish a modern energy communication system

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The European Investment Bank (EIB) is lending €136 million (£119m) to Ukrainian state-owned power firm Ukrenergo to help modernise the nation’s transmission infrastructure.

The bank says the programme aims to ensure Ukrainian citizens and companies have a reliable source of electricity by upgrading 12 electricity substations and establishing a modern energy communication system.

The communication infrastructure will use fibre-optic cables to protect, monitor and control the power grid, as well as enabling remote control of a number of substations located across the country.

The Ukrainian Government has provided guarantees for the loan.

The EU bank also signed a Memorandum of Understanding to develop infrastructure investments related to the improvement of urban road safety, create IT solutions for safe and effective traffic management and build new facilities for cyclists and pedestrians.

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