Norway provides €195 million in grants to Ukraine’s Naftogaz via the EBRD

The European Bank for Reconstruction and Development (EBRD) and the Government of Norway have joined forces to assist Ukraine’s state-owned gas company, Naftogaz (NAK), so it can supply energy to Ukrainian customers during the winter and beyond.  

Norway, a founding member of the EBRD, has agreed to provide a NOK 2 billion (€195 million equivalent) grant to top up a €300 million EBRD loan to NAK. 

The contribution will help NAK acquire gas for two annual gas purchase and supply cycles. This will secure heating in households, schools and offices, produce electricity and keep the economy running. 

“Helping Ukraine through the winter by supplying gas is of critical importance. Russia uses energy as a weapon in this senseless war with grave humanitarian and economic consequences,” said Norwegian Minister of Foreign Affairs Anniken Huitfeldt. “We are confident that EBRD is the best partner to ensure efficient, secure, and transparent facilitation of gas supplies to Ukraine.” 

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Press release