European Investment Bank allocates 300 million euros to Ukraine to bolster energy sector and support green transition
The European Investment Bank (EIB) has reached a significant agreement with Ukraine’s National Oil and Gas Company «Naftogaz», committing to provide the country with a long-term financial support of 300 million euros.
This credit line is expected to play a crucial role in stabilizing Ukraine’s energy system ahead of the upcoming heating season.
According to the Ukrainian Ministry of Economy, the funds will be directed toward replenishing natural gas reserves, which are vital for uninterrupted heating supply to households and businesses during winter.
Furthermore, the financial support underscores Ukraine’s commitment to transitioning towards more sustainable and environmentally friendly energy sources, promoting the green shift and decarbonization processes, which are strategic priorities of national policy.
The signing ceremony took place in Kyiv, attended by Economy Minister Oleksii Sobolev and EU Enlargement Commissioner Mariya Gabriel, during her visit to the Ukrainian capital.
Within this cooperation framework, the European Commission supports the loan through a budget guarantee, while EIB additionally provides technical assistance to «Naftogaz» to facilitate its transition to renewable energy sources.
This step is vital for enhancing Ukraine’s energy independence and achieving its environmental goals.
Previously, Ukraine’s Ministry of Finance announced that four billion euros had been received from the European Union under the «Economic Support for Ukraine» mechanism, funded by frozen Russian assets, which further strengthens the country’s financial stability amidst complex geopolitical challenges.