Maimed Ukrainian Power System May Get More European Bank Support
- EBRD already earmarked €300 million for energy sector repairs
- Businesses need more diversified supplies, Renaud-Basso says
A blackout following Russian attacks on energy infrastructure in Kharkiv.
Photographer: Roman Pilpey/AFP/Getty ImagesThis article is for subscribers only.
The European Bank for Reconstruction and Development is studying increased support to help Ukraine overcome a critical shortage of electricity as a third winter in wartime approaches.
Russian attacks have destroyed 80% of coal-fired power output and a third of hydro generation, forcing Ukraine to impose sweeping blackouts for households and businesses. The central bank has cut borrowing costs three times and lowered the growth outlook in part because of attacks on energy plants.