The European Bank for Reconstruction and Development will provide a € 300 million loan to help Naftogaz compensate for the loss of natural gas production following Russiaʼs invasion of Ukraine.
This was reported by the EBRD press service.
This amount is part of the EBRDʼs € 1 billion support that the bank will provide to Ukraine this year, together with donors and partners.
Naftogaz will spend an initial tranche of € 50 million on emergency gas purchases in preparation for Ukraineʼs gas system for the next heating season.
The EBRD notes that in addition to supporting energy security, the bankʼs loan is intended to support Naftogaz in resolving labor problems, as millions of people in Ukraine have been forced to flee their homes and jobs due to the war.
- On June 13, Naftogaz agreed with Symbio Infrastructure to supply liquefied natural gas and green hydrogen to Canada from Ukraine.