Germany's contribution to Energy Support Fund is EUR 450 mln – Reiche
Germany will invest another EUR 60 million in the Energy Support Fund, which will increase its contribution to EUR 450 million, the country’s Energy Minister Katherina Reiche said.
"Germany has already contributed EUR 390 million to the Fund, in the summer we agreed on a contribution of EUR 30 million, but now we are doubling it and providing EUR 60 million. Thus, this will already be a contribution of EUR 450 million," Reiche said at a press conference in Kyiv on Saturday.
She drew attention to the fact that Germany’s contribution is a third of the total volume of the Fund, explaining this by the desire to help Ukraine in difficult times.
"This money will allow us to obtain the necessary equipment to save Ukraine," Reiche said.
She said the targeted Russian attacks on the energy sector are very dangerous on the eve of winter, and they also threaten the production of necessary products, including defense products.
At the same time, Reiche said she was impressed by the will of the Ukrainian people to confront such challenges.
According to Minister of Energy of Ukraine Svitlana Hrynchuk, the Energy Support Fund, thanks to German and many other partners, allows to meet the large needs of energy companies for restoration throughout the war. At the same time, she noted that these needs currently exceed the volume of the fund by approximately EUR 500 million.