Following a request from the European Commission and in agreement with the Ministry of Energy of Ukraine, the Energy Community Secretariat has set up the legal framework for the Ukraine Energy Support Fund to counteract the impact of the Russian invasion.
The Fund will enable governments and international financial institutions to provide emergency financial support to the Ukrainian energy sector. The Secretariat will act as fiduciary of the Fund as well as an intermediary between the donors and the Ukrainian authorities.
“Ukraine and its energy sector need our support, but no country or organisation alone has the resources to ensure the country’s energy security. This new Fund will make helping Ukraine easier and better coordinated,” said EU Commissioner for Energy Kadri Simson. “It is an especially good option for those who want to contribute, but lack the practical or logistical ability to do so – like countries on the other side of Europe or the globe.”
Donations to the Fund will be disbursed under the control of the Ukrainian Ministry of Energy to finance the purchase of fuels, equipment, services and capital needed to keep the energy industry and infrastructure operational during the war.
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