The National Bank of Ukraine (NBU), with support from the USAID Investment for Business Resilience Activity, is upgrading its uninterruptible power supply systems to ensure the central bank’s continuous operation amid power disruptions caused by russia’s missile attacks on Ukraine’s energy infrastructure.
Recognizing the critical need for an uninterrupted and sustainable power supply, the USAID Investment for Business Resilience Activity provided a diesel generator and uninterruptible power supply (UPS) to the NBU. These resources will significantly bolster the NBU’s ability to maintain operations during power outages.
“The full-scale war has exacerbated the problem of ensuring uninterrupted power supply in critical situations, especially in the face of missile attacks on energy infrastructure facilities. Therefore, we are grateful to our USAID partners for their support in purchasing additional equipment that will enhance our ability to operate smoothly and provide uninterrupted power supply to the NBU’s critical infrastructure facilities, both in wartime and postwar,” said NBU Deputy Governor Oleksii Shaban.
USAID Mission Director to Ukraine, James Hope, highlighted the importance of this initiative, stating, “Providing backup power equipment is an important, proactive step in maintaining the central bank’s operations amid extensive energy infrastructure damage caused by russia’s war. Our goal in providing this equipment is to help the NBU enhance financial system robustness while ensuring the NBU can maintain smooth banking operations and perform daily operations uninterrupted.”
The NBU is committed to developing its own uninterruptible power supply systems to protect Ukraine’s critical banking infrastructure. As a national critical infrastructure protection system entity, the NBU ensures the seamless operation of the banking system, the financial market, and cash and cashless payments, while maintaining the security and stability of Ukraine’s financial system under martial law.
Through the POWER BANKING project, the NBU, as the banking system regulator, is dedicated to securing alternative energy sources and backup communication channels to guarantee uninterrupted operations under any circumstances. The partnership with USAID in installing additional uninterruptible power supply systems is a vital component of this effort.
The NBU is preparing to operationalize the new equipment that will enhance the central bank’s energy independence.
The USAID Investment for Business Resilience (IBR) Activity is a five-year program implemented by DAI Global LLC that supports systemic changes in Ukraine’s economy and increases the supply of finance available to Ukrainian businesses. IBR aims to transform the country’s financial sector into a well-functioning and competitive market that is aligned with European Union standards and integrated into international financial systems, while directly providing financing to enterprises for sustained economic growth. For additional information about the IBR, please visit its Facebook page at: https://www.facebook.com/IBRUAproject.