Today, the European Commission has signed a guarantee agreement with EBRD to enable an unprecedented \u20ac500 million loan for Ukraine\u2019s energy security. The financing will allow the state-ownedcompany Naftogaz of Ukraine (NAK) to finance emergency gas purchases. \u00a0The Commission will guarantee 90% of the loan within the amended HI-BAR programme financed under the EU\u2019s Ukraine Investment Framework.\u00a0<\/p>\n
The financing follows major Russian attacks on the company\u2019s upstream gas production and processing facilities. These attacks on civilian infrastructure occurring at increased intensity in the first half of 2025 have resulted in significant production losses and a stress situation on the reserves of the country ahead of the next winters. Replenishing the depleted gas reserves of Ukraine with the help of this financing package will be key to allow the country\u2019s critical infrastructure and population to access energy sources during the winter. Naftogaz will source natural gas competitively.\u00a0<\/p>\n
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.<\/p>\n