OREANDA-NEWS. January 08, 2013. As part of the September 2008 Agreement on Funding the Support to the Implementation of Ukraine's Energy Strategy program between the Cabinet of Ministers of Ukraine and the European Union, late 2012, the European Commission allocated its second tranche of proceeds amounting to EUR 28 million and 140 thousand to support the implementation of the government’s energy policy.

These proceeds are obtained in line with the EU sectored budget support tool providing for a non-repayable and non-refundable transfer of funds to the budget of Ukraine provided that previously negotiated targets are achieved under structured reforms.

Under this program, the European Union has so far provided EUR 40 million to Ukraine.

Another European Commission’s tranche will develop Ukraine’s energy sector by funding efforts to build and rebuild energy sites or parts thereof as listed by the Cabinet of Ministers of Ukraine.