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UK announces 380 million dollar energy support package for Ukraine
The UK has announced a new support package worth 290 million pounds (about 382 million dollars) to protect Ukraine's energy infrastructure and fight corruption. The package includes wind farms, nuclear fuel supply, and credit support for SMEs, as well as contributions to EU initiatives.
The UK has announced a new 290 million pound (about 382 million dollar) support package for Ukraine. The announcement came ahead of the Ukraine Recovery Conference to be held in Poland on June 25-26.
Much of the package is earmarked for protecting energy infrastructure, which is expected to come under heavy Russian attacks especially during winter, and for anti-corruption efforts.
UK Foreign Secretary Yvette Cooper said: "Ukraine needs long-term support to get through the conflict and to rebuild in the future."
Cooper stated: "At this year's Ukraine Recovery Conference, we are announcing a multi-million-pound package that will power Ukraine's homes and critical infrastructure, support its businesses, and deliver improvements in education and justice."
The two main financing items of the support package are as follows: 65 million pounds (85 million dollars) for co-financing two new wind farms and providing long-term loans to small and medium enterprises; and a 210 million pound (276 million dollar) deal for the UK-based company Urenco to supply nuclear fuel to Ukraine's state energy company Energoatom.
This latest commitment is not entirely new; it was announced last week at the G7 Summit by UK Prime Minister Keir Starmer, whose term has ended.
The announcement coincided with a new call by Ukraine for 650 million euros (740 million dollars) to protect its energy infrastructure before winter.
The UK also plans to contribute to European Union initiatives for Ukraine. This includes investing 13 million pounds (17 million dollars) in the EU Flagship Fund, which aims to reach 500 million euros by the end of the year, and transferring 2.4 million pounds (3.2 million dollars) to the EU's Anti-Corruption Initiative.
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