EBRD to provide €300 million to Ukraine to prepare the country’s gas system for the heating season  

EBRD to provide €300 million to Ukraine to prepare the country’s gas system for the heating season  

June 15, 2022

The European Bank for Reconstruction and Development (EBRD) will provide a loan of up to €300 million to help Ukrainian gas company Naftogaz (NAK) compensate for the loss of natural gas production following the invasion of Ukraine.

NAK will use the initial €50 million tranche disbursed by the EBRD for emergency gas purchases, which are urgently needed to prepare Ukraine’s gas system for the next heating season. 

In total, the company aims to raise €1 billion to buy up to one billion cubic metres of gas, which is critical to ensure there is enough gas in the system by autumn, and to safeguard access to services for people whose livelihoods and economic security are threatened by the war.

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