EBRD prepares additional €500 million loan for Naftogaz for gas imports

The European Bank for Reconstruction and Development (EBRD) is preparing a new €500 million loan for Naftogaz to finance additional natural gas purchases during the winter amid intensified Russian attacks on Ukraine’s energy infrastructure. This was reported by EBRD Vice President Matteo Patrone in an interview with the Kyiv Post.

“We are already preparing another €500 million package for Naftogaz to cover urgent gas imports. However, this will have a real effect only with a significant contribution from donors,” Patrone said.

He added that the EBRD has started consultations with “Ukraine’s friends and partners” to help the country get through the heating season, though “it is too early to share concrete plans.”

EBRD Vice President Matteo Patrone

The EBRD Vice President noted that new projects for the heating season amid Russian attacks will focus on developing distributed generation and restoring damaged facilities.

“We will do everything possible to ensure there is enough energy in the system this winter. But only if Ukraine’s international partners and the domestic banking sector also step up their support,” he told the Kyiv Post.

According to Patrone, the EBRD invested €1.15 billion in Ukraine’s energy sector in 2025. This includes €770 million in EBRD loans to Naftogaz for gas purchases, supplemented by €219 million in grants from Norway, as well as €160 million for Ukrnafta to develop new gas cogeneration capacities.

As a reminder, Russia carried out the largest mass attack on Ukrainian gas production assets at the beginning of October, causing a significant drop in production. According to Energy Minister Svitlana Hrynchuk, Ukraine plans to increase gas imports by 30% this winter following Russian attacks.