The European Investment Bank (EIB), the bank of the European Union, has signed a €300 million loan agreement with Ukraine’s state-owned energy company, Naftogaz, to bolster the country’s energy security and resilience ahead of winter. The financing will help replenish Ukraine’s long-term gas reserves, ensuring stable energy supplies for households and businesses despite continued Russian attacks on critical infrastructure.
As part of the agreement, Naftogaz has committed to reinvest an equivalent sum into renewable energy and decarbonisation projects, with EIB technical assistance supporting the company’s broader green transition strategy. This approach ties immediate crisis response to long-term sustainability, aligning Ukraine’s energy future with EU integration and the transition to cleaner energy sources.
The loan is backed by the European Commission under the EU’s Ukraine Investment Framework and forms part of the EIB’s Ukraine Energy Rescue Plan, which provides urgent support for Ukraine’s energy sector while keeping the country on track for green recovery. The financing complements support from other partners, including the European Bank for Reconstruction and Development (EBRD), as part of the Team Europe initiative.
EIB President Nadia Calviño underscored that the financing would provide “vital support to communities and businesses” during the winter. EIB Vice-President Teresa Czerwińska added that the loan “combines rapid crisis response with a long-term view,” advancing Ukraine’s shift towards a sustainable and resilient energy system.
Naftogaz CEO Sergii Koretskyi expressed gratitude to the Ukrainian government and European partners, calling the loan “substantial, practical support” for ensuring energy resilience. Prime Minister Yulia Svyrydenko also emphasized its importance, noting that it would secure gas reserves, guarantee heating for households, and further Naftogaz’s transition toward renewables and decarbonisation.
European Commissioner Marta Kos highlighted that the loan would help Ukraine prepare for another challenging winter while advancing integration into the EU energy market. European Commissioner Valdis Dombrovskis stressed that the agreement demonstrated the EU’s continued solidarity with Ukraine, providing timely assistance as the country faces a fourth winter since the full-scale Russian invasion.
Ukraine’s Minister of Economy, Environment, and Agriculture Oleksii Sobolev described the financing as an essential step for both energy and economic stability, ensuring reliable supply for businesses, preserving jobs, and supporting investment. He underlined that the partnership with the EIB contributes to Ukraine’s long-term goal of building a modern, sustainable, and Europe-integrated energy sector.
The agreement illustrates how Ukraine and its European partners are addressing immediate energy security needs while simultaneously laying the foundation for a cleaner and more resilient energy future.
