Canada Pledges Over Half Billion Dollars to Support Ukraine's Winter Energy Needs
Ukraine and Canada have solidified their energy cooperation partnership with a joint statement on deepening ties. According to Denys Shmyhal, First Deputy Prime Minister and Minister of Energy of Ukraine, Canada will provide over $547 million for emergency natural gas purchases and building up necessary reserves ahead of winter.
The funds will be allocated through the European Bank for Reconstruction and Development's programs. Additionally, Canada will contribute an extra 10 million Canadian dollars to the Energy Support Fund, increasing its total contribution to 100 million Canadian dollars.
Shmyhal also mentioned that Export Development Canada is allocating 200 million Canadian dollars to support priority projects in Ukraine, including those related to hydropower infrastructure. The partnership aims to continue exchanging information and expertise on modernizing power systems, energy storage technologies, infrastructure reconstruction, and improving grid resilience.