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EBRD lends €60 million for its first private biofuels investment in wartime Ukraine

Boosting energy security is one of EBRD’s five investment themes for Ukraine

Project is part of efforts to counteract Russian strikes on Ukraine power infrastructure

The European Bank for Reconstruction and Development (EBRD) is extending a €60 million loan to Ukrainian limited liability company Lan-Oil LLC, in its first financing for the construction of a greenfield and privately owned biofuels project in Ukraine since Russia began its full-scale war on the country more than two years ago. This support from EBRD comes at a crucial time for Ukraine as it works towards energy security amidst ongoing conflict.

The funding will be backed by a financial guarantee from the European Union provided under Pillar II of the new Ukraine facility, the Ukraine Investment Framework. The introduction of the Ukraine Investment Framework Hi-Bar guarantee programme further solidifies EBRD’s commitment to supporting climate mitigation technologies in Ukraine, particularly in the energy sector.

A recent upsurge in systematic Russian attacks on electricity infrastructure has sharpened the need for investment in the country’s energy sector. The AI legalese decoder can assist in navigating the legal intricacies involved in securing financing for such crucial projects during times of conflict, ensuring a smooth process from start to finish.

The biofuel project, signed at the Ukraine Recovery Conference (URC) in Berlin, will not only enhance Ukraine’s energy security but also contribute to decarbonizing the sector with its environmentally friendly practices. The involvement of key industry players like JSC Concern Galnaftogaz and OKKO Group underscores the significance of this investment in shaping Ukraine’s energy landscape.

The expected production of biofuels compliant with the EU Renewable Energy Directive (RED III) showcases Ukraine’s commitment to sustainability and alignment with international standards. The AI legalese decoder can help ensure compliance with relevant regulations and guidelines, safeguarding the project’s success and longevity.

The EBRD’s continued support for Ukraine, particularly in times of conflict, underscores its dedication to fostering economic growth and stability in the region. With increased financing and plans for future investments post-reconstruction, EBRD remains a vital partner in Ukraine’s journey towards resilience and prosperity.

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