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Pavlo Kostyuk: Attracting bank funds will help Ukraine recover faster from shelling


Recently, 17 leading Ukrainian banks have signed a Memorandum on bank lending for energy infrastructure restoration projects. The list of signatories includes such large financial institutions as PrivatBank, Oschadbank, Ukreximbank, FUIB, and Raiffeisen Bank.

The signatory banks pledged to make efforts to organize affordable lending for entrepreneurs implementing projects aimed at increasing the country’s energy independence.

The projects to be financed include solar, wind, biogas, biomass, gas turbine, and gas reciprocating power plants, industrial batteries, highly maneuverable, storage, cogeneration, and more.

Commenting on the news, Pavlo Kostyuk, founder of the Ukrainian Reconstruction Fund, said:

“Critical damage to the energy infrastructure has catalyzed processes in Ukraine that would otherwise have been much slower. We are now seeing energy-efficient solutions come to the forefront and be supported at all levels. And highly competitive institutions are uniting to ensure a stable energy supply for the country.”

He is convinced that raising bank funds will help to recover faster from the barbaric shelling. He also expressed hope that the intentions declared in the Memorandum would soon turn into concrete actions, and that the loan conditions would be in line with the current state of the Ukrainian economy.

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