EBRD pledges €200 million to help Ukraine create “strategic” gas reserves
Source: Ukraine’ finance ministry
The European Bank for Reconstruction and Development has announced a substantial €200 million aid package for Ukraine’s Naftogaz. The guarantee agreement was signed on Monday by Ukraine’s finance minister, Serhiy Marchenko, and EBRD managing director for Ukraine and Moldova, Arvid Tuerkner.
The pledged money will help the Ukrainian stater-run energy company to created “strategic natural gas reserves” and shore up the nation’s energy infrastructure.
The bank earlied teamed up with Ukraine’s govement to realize 10 projects worth €2.1 billion in the public sector in Ukraine.
“The EBRD remains the largest institutional investor in Ukraine. As a result of close cooperation with the Bank, we are implementing projects in the energy sector, providing liquidity support to key public sector enterprises, rebuilding infrastructure and operating businesses in the private sector,” said Serhii Marchenko.
During the meeting, the parties also addressed a range of the issues including potential mechanisms for mitigating war-related risks, and initiatives promoting maritime war risk insurance for shipowners.
Since Feb.24 invasion , the EBRD has pledged almost €4 billion to aid Ukraine.
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