Ukraine will receive 200 million euros from the European Bank for Reconstruction and Development (EBRD) to support NJSC Naftogaz of Ukraine in creating strategic natural gas reserves and enhancing energy security.
Today, Ukrainian Finance Minister Serhiy Marchenko and EBRD Managing Director for Ukraine and Moldova Arvid Tuerkner signed the corresponding Guarantee Agreement.
"The EBRD is a leader in supporting initiatives to ensure the stability of Ukraine's energy sector operations. Grateful for understanding Ukraine's urgent needs and making necessary decisions. Today's signing is an important step towards enhancing Ukraine's energy stability amidst war," Serhiy Marchenko noted.
Following the signing of the Agreement, the parties held a working meeting on the progress of joint projects and future cooperation priorities.
As of today, there are ten joint projects with the EBRD in the state sector at the implementation stage with a total volume of 2.1 billion euros.
"The EBRD remains Ukraine's largest institutional investor. Through close cooperation with the Bank, we implement projects in the energy sector, ensure liquidity support for key state-owned enterprises, infrastructure reconstruction, and business operations in the private sector," Serhiy Marchenko emphasized.
Since the start of the full-scale invasion, EBRD assistance across all areas has reached nearly 4 billion euros. The Bank has significantly increased its financing volumes for Ukraine since Russia launched its full-scale war and intends to continue investing in Ukraine from 1.5 to 2 billion euros annually.
During the meeting, existing and potential mechanisms for war risk insurance and EBRD support initiatives in this area were also discussed, including promoting the development of property insurance against maritime war risks for vessel owners exporting goods from Black Sea ports in Ukraine to various countries worldwide.
The parties noted that priority areas for attracting further investments would remain support for the energy sector, including investments in renewable energy sources, infrastructure restoration, and private sector support.
