OREANDA-NEWS. October 04, 2011. There have been held credit agreement signing between Ukraine and the European Bank for Reconstruction and Development (EBRD) and the project agreement between the Bank and JSC "Ukrhydroenergo" under the project of rehabilitation of hydropower plants at the Ministry of Energy and Coal Industry of Ukraine.

The credit agreement, from Ukraine side, was signed by the Minister of Ukraine of Energy and Coal Industry, Yuriy Boyko, the project agreement - the General Director of JSC "Ukrhydroenergo" Igor Sirota. The agreements, from the EBRD side, were signed by the Managing Director for Energy of the Bank Riccardo Puliti.

Commenting on the agreements on the project of rehabilitation of hydropower plants, the Minister of Energy and Coal Industry of Ukraine Yuriy Boyko noted the importance of this project for the Ukrainian economy and energy security, and thanked his colleagues from the EBRD for successful cooperation.

 "I want to thank our colleagues from the EBRD for system support the energy sector, which the Bank conducts throughout several years. The Bank is supporting us for the most important projects in the energy sector, which include the construction of high voltage networks, reconstruction of the transmission system and upgrading of hydropower plants.  Only on these projects, we expect the loan portfolio of approximately 600 million Euros. And we are especially pleased that the funds allocated to the extremely favorable conditions for our economy. Therefore, I want to thank our colleagues and to invite them to even more fruitful cooperation," Yuriy Boyko has told.

In turn, the Managing Director for Energy of the Bank Riccardo Puliti has noted that the EBRD is pleased to participate in the rehabilitation project Ukrainian power plants and further develop cooperation with Ukraine in the energy sector.

"I am very pleased that signing of agreements has taken place. Concerning successful cooperation between us, I want to add that only this year the European Reconstruction and Development Bank have performed financing of energetic industry of Ukraine approximately on 300 million euro, and it regarding new operations. This concerned both state, and private companies. We are assured that the same effective cooperation would take place and in 2012," Riccardo Puliti has declared.