Germany to provide $35.5M to Ukraine for transformer upgrades

Germany will assist Ukraine with a $35.5 million (€32.5 million) loan for the implementation of the second phase of the power transmission upgrade project aimed at increasing energy efficiency through modernization of transformer substations.

“The project is intended to increase quality of power supply thanks to restoration of transformer substations and strengthening power lines,” Ukraine’s trade ministry said, report Interfax.

The financial assistance from Germany will be provided by the end of 2016.

Source: Interfax