KYIV, Oct 31 – The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved the provision of additional financing in the amount of EUR 200 million for the development of renewable energy sources in Ukraine.

The EBRD said it intends to issue new funds to finance private renewable energy projects under the current system of stimulating "green" tariffs. The planned replenishment will allow the bank to build on the success of USELF-III and maintain momentum in the transition from the existing mechanism of preferential tariffs to a support system based on competitive auctions.