Ukraine to Get 400 Million Euros for HydroPower From EBRD, EIB

The European Investment Bank and European Bank for Reconstruction and Development will lend Ukraine 400 million euros ($566 million) to upgrade hydropower stations, the Energy and Coal Industry Ministry said.

An accord will probably be signed in September, the Kiev-based ministry said late yesterday in an e-mailed statement.

Ukraine will use the funds to increase electricity production by 213 gigawatts an hour at its six hydropower stations from 2011 through 2016, according to the statement.