The European Bank for Reconstruction and Development (EBRD) has provided a €500 million loan (almost $590 million) to the national gas company Naftogaz (NAK) for emergency gas purchases for Ukraine.
The loan is geared at reinforcing Ukraine’s energy security, which has been compromised by repeated targeted attacks from Russia this year.
This agreement marks the Bank’s largest single loan facility in Ukraine to date, said the EBRD in its statement.
The EBRD’s loan is backed by a European Union guarantee covering 90% of the loan amount, that is provided under the European Union’s Ukraine Investment Framework—an initiative aimed at unlocking financing for Ukraine’s recovery and long-term growth.
This latest financing to Naftogaz comes in response to severe Russian attacks on the company’s upstream gas production and processing facilities during the first half of 2025. These attacks have caused significant production losses and increased the need for gas imports, as the company works to restore its damaged infrastructure.
This is the fourth finance package the EBRD has provided for Naftogaz since Russia launched its full-scale war on Ukraine in 2022. It brings the total Bank financing to Naftogaz to €1.6 billion (almost $1.90 billion), including €1.27 billion (around $1.5 billion) in EBRD loans and €330 million (around $386 million) in grants provided by Norway via EBRD.
According to the Bank's statement, the transaction will also support the reform objectives of previous EBRD engagement, with Naftogaz working towards the integration of the Ukrainian gas market with that of the EU.
Naftogaz will source natural gas competitively from 30 pre-qualified gas suppliers with contracts based on standards of the European Federation of Energy Traders.
"Replenishing the depleted gas reserves of Ukraine with the help of this financing package will be key to allow the country's critical infrastructure and population to access energy sources during the winter," the EU statement said.
"Upon reimbursement of the 2-year loan, the EBRD and the Commission will reallocate the available guarantee coverage to capital investment projects enabling long-term private and public investments, for instance in the renewables sector," it added.
Competing versions of what led to the fatal shooting of Renee Nicole Good by an Immigration Customs Enforcement agent are rife as President Trump and ...
President Ilham Aliyev has said the opening of the Zangezur corridor is no longer in question, describing it as a strategic transport link that will c...
Armenian Prime Minister Nikol Pashinyan met the outgoing U.S. ambassador Kristina Kvien at his office in capital Yerevan on Wednesday, according to a ...
Armenian Prime Minister Nikol Pashinyan has confirmed that fuel imports from Azerbaijan have resumed, saying the market is open to all businesses and ...
Iran’s Commander-in-Chief of Army, Major General Amir Hatami has warned against hostile rhetoric from U.S. and Israeli officials. “Iran considers ...
Open-source intelligence (OSINT) sources reported a significant movement of U.S. military aircraft towards the Middle East in recent hours. Dozens of U.S. Air Force aerial refuelling tankers and heavy transport aircraft were observed heading eastwards, presumably to staging points in the region.
Snow and ice stalled travellers in northwest Europe on Wednesday, forcing around a thousand to spend the night in Amsterdam's Schiphol airport but delighting others who set out to explore a snow-blanketed Paris on sledges and skis.
Diplomatic tensions between Tokyo and Beijing escalated as Japan slams China's export ban on dual-use goods. Markets have wobbled as fears grow over a potential rare earth embargo affecting global supply chains.
Two people have been killed after a private helicopter crashed at a recreation centre in Russia’s Perm region, Russian authorities and local media have said.
Iran’s chief justice has warned protesters there will be “no leniency for those who help the enemy against the Islamic Republic”, as rights groups reported a rising death toll during what observers describe as the country’s biggest wave of unrest in three years.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment