I welcome today´s loan agreement for USD 300 million between the European Bank for Reconstruction and Development (EBRD) and Ukraine to finance purchases of gas for the coming winter. I am very optimistic that also thanks to this agreement, the citizens and businesses in Ukraine will have a warm winter in their homes and premises.
The European Commission has organised through European and international financial institutions the necessary assistance to finance gas purchase of Ukraine. Earlier this month, [on 9 October] the European Investment Bank (EIB) and World Bank signed an agreement, by which EIB will guarantee up to USD 520 million of selected World Bank loans in Ukraine, which will enable the World Bank to guarantee letter of credit facilities for gas purchases by Naftogaz. This agreement was facilitated by a counter-guarantee of the European Union granting comprehensive cover to the EIB linked to risks of these selected WBG loans in Ukraine.