Ukraine and the European Bank for Reconstruction and Development have signed a Guarantee Agreement under the project “Project for financing emergency gas procurement by NJSC Naftogaz of Ukraine”.
This is indicated in a statement by the Ministry of Finance, the Ukrainian News agency reports.
It provides for the provision of EUR 270 million to the gas supply company to support the stability of operations and liquidity.
The signatory from Ukraine was Prime Minister of Ukraine Denys Shmyhal, and from the EBRD – President of the European Bank for Reconstruction and Development Odile Renaud-Basso.
“Today, the EBRD remains the largest institutional investor in Ukraine and plays a significant role in the reconstruction and recovery of the country. Thanks to close cooperation between the Bank and the Government of Ukraine, it was possible to ensure stable operation and recovery of key entities of critical infrastructure. The Bank's projects in the energy sector are particularly important, as Russia has caused significant damage to Ukraine's energy system since the start of its full-scale invasion. Therefore, today's agreement will help attract the necessary resources to ensure the smooth passage of the 2025-2026 heating season," said Minister of Finance of Ukraine Serhii Marchenko after the signing.
It is noted that in order to strengthen Ukraine's energy security and ensure the stability of the electricity transmission system in 2022-2024, the EBRD has allocated about EUR 600 million to support the liquidity and sustainability of the operation of NPC Ukrenergo.
As the Ukrainian News agency earlier reported, the former CEO of the Gas Transmission System Operator of Ukraine (GTSOU), Serhii Makohon, said that Ukraine needs to find up to USD 3 billion and quickly enough to start importing gas from May.
At the end of March, the European Bank for Reconstruction and Development (EBRD) approved a loan for the Naftogaz of Ukraine National Joint-Stock Company for the procurement of natural gas for the next two heating seasons in the amount of up to EUR 270 million.
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