EIB Bolsters Ukraine's Energy Resilience with €300M Loan to Naftogaz
The European Investment Bank (EIB) has stepped in to bolster Ukraine's energy resilience, signing a €300 million loan agreement with Naftogaz. This substantial support, welcomed by Prime Minister Yulia Svyrydenko, aims to strengthen the country's energy security ahead of winter and facilitate its transition to cleaner, more sustainable energy.
The loan, part of the EIB's Ukraine Energy Rescue Plan, will help Naftogaz replenish gas reserves and enhance its resilience. EIB Vice-President Teresa Czerwińska noted that the financing combines immediate crisis response with long-term vision, supporting Ukraine's green transition and EU integration.
The EIB is also providing technical assistance to Naftogaz, managed by a dedicated project manager, to advance its decarbonisation strategy. This support is backed by the European Commission under the EU's Ukraine Investment Framework and complements parallel support from other partners like the European Bank for Reconstruction and Development (EBRD).
Sergii Koretskyi, CEO of Naftogaz Ukraine, expressed gratitude for the EIB's substantial support, which will help ensure the country's energy resilience ahead of the winter. EIB Group President Nadia Calviño echoed this, stating that the new financing will reinforce Ukraine's energy security, providing vital support to communities and businesses.
The €300 million loan from the EIB to Naftogaz underscores the international community's commitment to supporting Ukraine's energy security and sustainability. By replenishing gas reserves and aiding the green transition, this financing ensures Ukraine is better equipped to face the winter and move towards a cleaner, more resilient energy future.