The loan programme includes a $177 million loan from the IBRD, a $34 million loan from the Clean Technology Fund and a $1 million CTF grant to make the Ukrainian system more resilient.

President Volodymyr Zelensky's administration overcame resistance from large numbers of deputies to secure passage of laws which open the way for new IMF credits.

Ukraine’s renewables sector is in chaos, marred by unrealistic promises, setbacks caused by the COVID pandemic - and spiralling debt that has left Kyiv on the hook to foreign green energy producers at a tab of close to $1 billion.

The government forecasts about 4 percent growth in 2021 – after registering negative growth of 4 percent in 2020.