The Minister of Energy of Ukraine, Svitlana Grynchuk, held a meeting with the World Bank Regional Director for Eastern Europe, Robert Saum. The parties discussed key areas of recovery and development of Ukraine's energy sector.
Restoration and protection of energy infrastructure, the creation of equipment reserves for emergency repairs, the development of scientific potential at the Chornobyl Nuclear Power Plant, as well as the implementation of current and new projects in the energy sector were the major issues to address.
"Cooperation with the World Bank is extremely important for the restoration and modernization of Ukraine's energy sector in accordance with European standards. Our joint projects aim to strengthen the resilience of the energy system, protect infrastructure from attacks, and develop renewable energy sources. We highly value the support of the World Bank, which allows us to respond quickly to challenges and move towards a sustainable energy future," stated the Minister of Energy of Ukraine, Svitlana Grynchuk.
The parties agreed to intensify cooperation in the following areas:
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attracting financing for the procurement of equipment necessary for rapid response to damage caused by russian attacks;
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development of renewable energy sources and distributed generation, in particular through the attraction of grants and investments;
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deepening cooperation in the field of nuclear energy, including research and innovative solutions;
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continued implementation of the RePower project, which includes equipment procurement, construction of protective structures, and development of distributed generation;
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launch of a new project by the World Bank and PJSC Ukrhydroenergo, aimed at increasing the flexibility of the power system, developing energy storage, and supporting the decarbonization process;
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further implementation of reforms in the sector, including European integration, improvement of corporate governance, and creation of favourable conditions for the development of renewable energy.
The World Bank confirmed that the energy sector remains one of the priorities of its activities in Ukraine, and its team will be expanded to strengthen technical and expert support.
