The European Bank for Reconstruction and Development will allocate 300 million euros to Naftogaz, the first 50 million already available for emergency gas purchases.
The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 300 million euros to help NJSC Naftogaz Ukrainy recover the loss of natural gas production following Russia’s invasion of Ukraine. This is stated on the bank’s website.
It was noted that the Ukrainian company uses the initial tranche of 50 million euros, which is already available, for emergency gas purchases in preparation for the next heating season.
The goal is to raise a total amount of 1 billion euros to buy up to 1 billion cubic meters of gas, which is important to ensure that there is enough gas in the system in the fall, as well as to ensure access to services for people. there the livelihood and economic security are under threat of war.
“The urgency is clear. Gas is needed: for the next heating season, to generate electricity, to support the economy more broadly. Gas replenishment must begin now to avoid serious consequences in the fall, ”said EBRD Vice President Alain Piloux.
The loan is part of a € 1 billion package the EBRD intends to use to finance projects in Ukraine to support its economy.
It will be recalled that Naftogaz of Ukraine had earlier signed a memorandum with Canadian Symbio Infrastructure on the supply of liquefied natural gas and “green” liquid hydrogen (LH2) from 2027.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.