EBRD preparing additional EUR 500 mln for urgent gas purchases by Naftogaz – Kyiv Post
The European Bank for Reconstruction and Development (EBRD) is preparing an additional EUR 500 million in financing for NJSC Naftogaz Ukrainy to fund urgent gas purchases prompted by intensified Russian attacks on Ukraine's energy infrastructure, EBRD Vice President Matteo Patrone told Kyiv Post.
"We are also already preparing another EUR 500 million package for NAK [Naftogaz] to cover urgent gas imports. However, this will only make a real difference if we get a substantial contribution from donors," he said in the interview.
According to Patrone, the EBRD has already started consultations with "Ukraine's friends and partners" to help the country get through the heating season, though it is still too early to share concrete plans.
He recalled that this year, the EBRD has already mobilized EUR 1.15 billion for Ukraine's energy sector, including EUR 770 million in EBRD loans to Naftogaz for gas purchases, complemented by EUR 219 million in grants from Norway, and EUR 160 million for Ukrnafta to develop new gas cogeneration facilities.
In total, the EBRD has allocated nearly EUR 2.3 billion to Ukraine this year – already exceeding its annual target, the vice president emphasized. These funds are distributed among 46 private-sector and 7 public-sector projects in Ukraine.
