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EBRD and Netherlands support Naftogaz with €23 million grant
Author: Rodrigo Juárez
- Netherlands provides €23 million grant through the EBRD
- Naftogaz will use the funds to buy additional natural gas during periods of peak demand
- Funding will help Ukraine meet its heating needs this winter
The European Bank for Reconstruction and Development (EBRD) and Naftogaz Group have signed a €23 million grant agreement funded by the Government of the Netherlands. Naftogaz will use the grant to purchase additional natural gas during periods of peak demand.
The grant forms part of the Netherlands’ support for Ukraine’s energy sector. It will help Naftogaz meet winter heating needs as attacks on gas production infrastructure continue.
Arvid Tuerkner, EBRD Managing Director for Ukraine and Moldova, said: “The Netherlands have been a steadfast partner to the EBRD in our efforts to ensure Ukraine’s energy security. We are grateful for this grant contribution to Naftogaz, which will be provided alongside our own financing for gas purchases and will support gas supply to Ukraine this winter”.
“The enemy is systematically targeting gas production infrastructure in an attempt to deprive Ukrainians of heat. Additional funding for gas purchases will strengthen the resilience of the energy system and help ensure a stable heating season. I thank the Government of the Netherlands and the EBRD for supporting Ukraine’s energy sector,” said Sergii Fedorenko, acting CEO of Naftogaz Group.
The Dutch grant builds on the EBRD’s work with Naftogaz to replenish Ukraine’s gas reserves. Since Russia’s full-scale invasion in 2022, the Bank has deployed more than €3.6 billion to support Ukraine’s energy security.