Zelenskyy signed a law on state guarantees for Ukrenergo’s lending

President of Ukraine, Volodymyr Zelenskyy, signed a draft law that grants the Cabinet of Ministers the right to provide state guarantees for loans for NPC Ukrenergo, Business Censor reports.

According to the data on the website of the Verkhovna Rada, the corresponding draft law No.4119 on amending the State Budget for 2020 was returned with Zelenskyy's signature on November 26.

To recap, NPC Ukrenergo has received state guarantees to attract loans from state banks, the EBRD, and other international financial organizations on favorable terms.

The Verkhovna Rada of Ukraine adopted the draft law No.4119 "On Amendments to the Law of Ukraine “On the State Budget of Ukraine for 2020”, in which it granted the Cabinet of Ministers the right to provide state guarantees to the transmission system operator, Ukrenergo, to pay off debt obligations to producers from renewable sources. This will help increase the level of settlements in the electricity market, in particular, and ensure the implementation of the Memorandum with investors in renewable energy.

Earlier, the Cabinet of Ministers approved a list of priority investment energy projects until 2023.