EIB supports Ukraine’s energy security with €300 million loan to Naftogaz
The European Investment Bank (EIB), the bank of the European Union, has signed a landmark €300 million loan agreement with Ukraine’s state-owned energy utility, Naftogaz. This financing is an urgent measure to support the resilience of the energy sector and help replenish the country’s long-term gas reserves ahead of winter.
The signing was attended by Ukrainian Minister of Economy, Environment and Agriculture Oleksii Sobolev and European Commissioner for Enlargement Marta Kos during her visit to Kyiv.
“This loan helps prepare Ukraine for another difficult winter. It will help households and businesses keep the lights and the heating on. It will advance Ukraine’s integration into the EU energy market,” Marta Kos said.
Ukraine’s Prime Minister Yulia Svyrydenko welcomed the agreement, saying that thanks to this financing, “Ukraine will be able to secure gas reserves and ensure a stable supply of heat this winter for hundreds of thousands of households, even amid ongoing enemy attacks.”
As part of the operation, Naftogaz pledges to reinvest an amount equivalent to the EIB loan into renewable energy and decarbonisation projects. The EIB is also already supporting this effort with technical assistance to help the company move forward with its decarbonisation strategy and advance its green transition.
This operation is part of the EIB’s Ukraine Energy Rescue Plan. Under this strategic initiative, the EIB has committed to provide urgent support for Ukraine’s energy system during the war, while keeping the country on course for the green transition and integration into the EU single market.
“This loan combines rapid crisis response with a long-term view. It supports the country’s shift to cleaner, more sustainable energy – a cornerstone of the country’s recovery and EU integration,” said EIB Vice-President Teresa Czerwińska, who oversees the bank’s operations in Ukraine.
The financing is also part of a coordinated Team Europe effort, with the European Commission backing the loan through the EU’s Ukraine Investment Framework (UIF) guarantee. It complements parallel support provided by other partners like the European Bank for Reconstruction and Development (EBRD), ensuring a joint response in the Ukrainian energy sector of unprecedented swiftness, efficiency and impact.
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