Sweden Allocates Almost €57 Million for Ukraine's Energy Sector

Sweden is allocating a new aid package worth SEK 650 million (EUR 56.5 million) to increase Ukraine's electricity generation and transmission capacity. This was reported by the Embassy of Sweden in Ukraine on Facebook, Ukrinform reports.

It is noted that SEK 500 million (EUR 43.5 million) will be financed through the Energy Community's Energy Support Fund for Ukraine. Another SEK 150 million (EUR 13 million) will be provided through the United Nations Development Programme (UNDP) in Ukraine.

‘This assistance will ensure the supply of energy to critical infrastructure and other institutions so that Ukrainian schools, hospitals, transport, water supply and industry can function properly,’ the statement said.

As reported, in 2022, the Energy Community decided to establish an Energy Support Fund for Ukraine to counter the consequences of the Russian invasion.

The Fund's donors are expected to be mainly EU member states, as well as international companies and corporations.

The consolidated funds will be used to restore the energy infrastructure that was damaged or destroyed as a result of hostilities in Ukraine initiated by Russian military aggression.