Ukraine will raise over EUR 400 million from the EBRD to prepare for the next heating season: Denys Shmyhal

On April 25, in Washington, DC, Prime Minister Denys Shmyhal and EBRD President Odile Renaud-Basso signed an agreement between Ukraine and the European Bank for Reconstruction and Development that will strengthen the energy sustainability of our country.

"The agreement provides for EUR 270 million in loans from the EBRD under state guarantees and will be accompanied by a EUR 140 million grant from the Government of Norway. This will allow Naftogaz of Ukraine NJSC to import significant volumes of natural gas to prepare for the next heating season," the Head of the Ukrainian Government said and thanked Odile Renaud-Basso for her support and solidarity.

According to Denys Shmyhal, since the beginning of the full-scale war, the EBRD has attracted more than EUR 6 billion in loans, grants, and guarantees for Ukraine. Currently, 12 projects are being jointly implemented in the public sector, covering energy, logistics, and critical infrastructure domains.

Denys Shmyhal and Odile Renaud-Basso also discussed further cooperation in the field of distributed generation, restoration of hydropower, development of gas production, and transport.

The parties also touched upon support for the private sector, particularly small and medium-sized businesses. Particular attention was paid to the reconstruction of Ukraine immediately after the end of hostilities, as well as to the country's long-term development.

“The EBRD will remain a reliable partner of Ukraine in implementing initiatives that make us stronger to withstand, recover and grow,” emphasized Denys Shmyhal.