Ukraine, IMF discuss the situation in the energy sector

(MENAFN-UkrinForm) Ukraine is introducing a number of programs to help companies ensure energy independence and restore at least some of the capacity destroyed by Russia in the winter.

According to Ukrinform, this issue was discussed at a meeting of First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko with First Deputy Managing Director of the International Monetary Fund Gita Gopinath – reports the press service of the ministry.

“We are grateful to the International Monetary Fund for its support, which has enabled our country to maintain macro-financial stability and contributed to strengthening the economy. Ukraine hopes that the fourth review of the IMF’s Extended Fund Facility program will bring a positive decision for our country, which will continue to constitute the basis for stability,” Svyrydenko said.

Read also: The government hopes to receive USD 2.2 billion from the IMF this month – Prime Minister

One of the key issues discussed at the meeting was the reconstruction of the Ukrainian energy sector in the face of Russia’s deliberate destruction of energy facilities. According to Svyrydenko, Ukraine is implementing programs to help enterprises gain energy independence and rebuild at least some of the destroyed facilities by winter.

In particular, she talked about the latest events, including the implementation of a new US aid package worth over $800 million to support Ukraine’s energy system, the government’s extension of the Affordable Loans program to 5-7-9% to facilitate the purchase and installation of gas-fired power units and other initiatives the government plans to undertake.

According to Ukrinform, in 2024 Ukraine needs another $9.5 billion to finance priority repair needs: defense industry, energy, renovation of damaged apartments, etc.

Photo credit: Ministry of Economy

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