The Verkhovna Rada of Ukraine adopted in the second reading the Bill on Amendments to the Law of Ukraine “On the State Budget of Ukraine for 2020” № 4119.

To remind, this bill is about providing state guarantees to «Ukrenergo» to attract credit funds to improve the financial condition of the company.

«State guarantees for “Ukrenergo” mean that banks and financial institutions that will provide them a loan will be able to receive the provided loan money on time, if “Ukrenergo” is unable to pay on its own» – commented Oleksandra Gumeniuk, director of EUEA.

This Bill is important for the RES sector, as according to the Memorandum of Understanding, the Government has committed to repay 40% of the debt of UAH 22.4 billion accumulated in March-July this year to RES electricity producers in 2020. Repayment of 40% of the debt will become more realistic after the adoption of the Bill №4119.

Now it’s President’s turn to sign the Bill approved by the Verkhovna Rada of Ukraine.

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